Biomerica, Inc. (NASDAQ:BMRA) Short Interest Update

Biomerica, Inc. (NASDAQ:BMRA) was the recipient of a significant decrease in short interest in July. As of July 15th, there was short interest totaling 22,058 shares, a decrease of 32.4% from the June 30th total of 32,611 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average trading volume of 6,993 shares, the short-interest ratio is currently 3.2 days.

Biomerica Trading Down 1.9%

BMRA stock opened at $1.56 on Friday. The stock has a market capitalization of $4.82 million, a price-to-earnings ratio of -1.75 and a beta of 0.33. The firm’s 50-day moving average price is $1.88 and its two-hundred day moving average price is $2.11. Biomerica has a 12-month low of $1.52 and a 12-month high of $4.60.

Hedge Funds Weigh In On Biomerica

A hedge fund recently raised its position in Biomerica stock. DRW Securities LLC boosted its stake in Biomerica, Inc. (NASDAQ:BMRA) by 62.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,925 shares of the company’s stock after buying an additional 6,533 shares during the period. DRW Securities LLC owned 0.56% of Biomerica worth $43,000 at the end of the most recent reporting period. 22.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BMRA. Citizens Jmp assumed coverage on Biomerica in a report on Tuesday, May 5th. They set a “mkt outperform” rating and a $9.00 price objective for the company. Weiss Ratings lowered shares of Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 5th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Biomerica currently has a consensus rating of “Sell” and a consensus price target of $9.00.

About Biomerica

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.