Biomerica (NASDAQ:BMRA) Shares Cross Below 200-Day Moving Average – Time to Sell?

Biomerica, Inc. (NASDAQ:BMRA) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.30 and traded as low as $2.08. Biomerica shares last traded at $2.12, with a volume of 15,261 shares trading hands.

Wall Street Analysts Forecast Growth

BMRA has been the topic of a number of analyst reports. Citizens Jmp initiated coverage on shares of Biomerica in a research note on Tuesday, May 5th. They issued a “mkt outperform” rating and a $9.00 target price on the stock. Weiss Ratings raised shares of Biomerica from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell” and a consensus price target of $9.00.

Biomerica Stock Down 0.9%

The company’s fifty day simple moving average is $2.23 and its two-hundred day simple moving average is $2.30. The company has a market capitalization of $6.55 million, a price-to-earnings ratio of -2.38 and a beta of 0.31.

Biomerica (NASDAQ:BMRA) last posted its earnings results on Monday, April 13th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($1.20) by $0.76. The company had revenue of $0.99 million for the quarter, compared to analyst estimates of $3.63 million. Biomerica had a negative net margin of 96.49% and a negative return on equity of 98.14%.

Institutional Investors Weigh In On Biomerica

An institutional investor recently raised its position in Biomerica stock. DRW Securities LLC increased its stake in shares of Biomerica, Inc. (NASDAQ:BMRA) by 62.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,925 shares of the company’s stock after acquiring an additional 6,533 shares during the period. DRW Securities LLC owned about 0.56% of Biomerica worth $43,000 as of its most recent SEC filing. Institutional investors and hedge funds own 22.28% of the company’s stock.

Biomerica Company Profile

Biomerica, Inc is a developer, manufacturer and marketer of in vitro diagnostic tests for clinical diagnostic, life science research and food safety applications. The company’s product portfolio includes enzyme-linked immunosorbent assays (ELISAs), lateral flow immunoassays, point-of-care devices and specialty reagents designed to aid in the detection and monitoring of gastrointestinal, metabolic and autoimmune conditions. Biomerica’s diagnostics are used by hospitals, clinical and reference laboratories, and research institutions seeking solutions for early disease detection and patient management.

Key offerings from Biomerica include serological tests for celiac disease and gluten intolerance, quantitative assays for colorectal cancer screening markers such as M2-PK, and a range of point-of-care kits for metabolic monitoring.