Biomerica, Inc. (NASDAQ:BMRA) Sees Significant Decline in Short Interest

Biomerica, Inc. (NASDAQ:BMRA) saw a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 45,117 shares, a drop of 26.0% from the February 26th total of 60,973 shares. Based on an average daily volume of 19,526 shares, the days-to-cover ratio is currently 2.3 days. Approximately 1.8% of the shares of the company are sold short.

Biomerica Stock Performance

NASDAQ:BMRA opened at $2.05 on Tuesday. Biomerica has a fifty-two week low of $1.87 and a fifty-two week high of $4.88. The company has a market cap of $6.19 million, a price-to-earnings ratio of -2.20 and a beta of 0.21. The stock has a fifty day moving average price of $2.20 and a 200-day moving average price of $2.49.

Biomerica (NASDAQ:BMRA) last posted its quarterly earnings data on Wednesday, January 14th. The company reported ($0.45) earnings per share for the quarter. Biomerica had a negative return on equity of 83.73% and a negative net margin of 90.29%.The firm had revenue of $1.21 million for the quarter.

Institutional Investors Weigh In On Biomerica

A hedge fund recently raised its stake in Biomerica stock. DRW Securities LLC lifted its holdings in shares of Biomerica, Inc. (NASDAQ:BMRA) by 62.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,925 shares of the company’s stock after buying 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 filing with the SEC. 22.28% of the stock is currently owned by institutional investors and hedge funds.

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.