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

Biomerica, Inc. (NASDAQ:BMRA)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.27 and traded as low as $1.76. Biomerica shares last traded at $1.76, with a volume of 10,675 shares changing hands.

Analysts Set New Price Targets

BMRA has been the topic of several recent analyst reports. Citizens Jmp started coverage on Biomerica in a research report on Tuesday, May 5th. They set a “mkt outperform” rating and a $9.00 target price on the stock. Weiss Ratings cut 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.com, the stock has an average rating of “Sell” and an average price target of $9.00.

Biomerica Stock Performance

The business’s 50-day simple moving average is $2.17 and its 200-day simple moving average is $2.27. The company has a market capitalization of $5.41 million, a PE ratio of -1.97 and a beta of 0.31.

Biomerica (NASDAQ:BMRA) last released its quarterly earnings data on Monday, April 13th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.76. The firm 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%.

Hedge Funds Weigh In On Biomerica

An institutional investor recently raised its stake in Biomerica stock. DRW Securities LLC increased its stake in shares of Biomerica, Inc. (NASDAQ:BMRA) by 62.9% during the 4th quarter, according to the company in its most recent Form 13F filing 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 filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 22.28% of the company’s stock.

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.