Chembio Diagnostics (NASDAQ:CEMI) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Chembio Diagnostics (NASDAQ:CEMIGet Rating) in a report released on Monday morning. The firm issued a hold rating on the stock.

Chembio Diagnostics Trading Up 5.6 %

Shares of Chembio Diagnostics stock opened at $0.29 on Monday. The company has a 50-day moving average of $0.33 and a two-hundred day moving average of $0.57. The stock has a market cap of $10.46 million, a PE ratio of -0.24 and a beta of 1.72. The company has a current ratio of 1.22, a quick ratio of 1.00 and a debt-to-equity ratio of 0.01. Chembio Diagnostics has a 12-month low of $0.23 and a 12-month high of $2.33.

Institutional Trading of Chembio Diagnostics

Several institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC increased its position in Chembio Diagnostics by 98.0% during the 3rd quarter. Signaturefd LLC now owns 69,300 shares of the company’s stock worth $25,000 after purchasing an additional 34,300 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Chembio Diagnostics by 383.4% during the 3rd quarter. Renaissance Technologies LLC now owns 113,600 shares of the company’s stock worth $41,000 after purchasing an additional 90,100 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Chembio Diagnostics during the first quarter worth about $102,000. Finally, Vanguard Group Inc. raised its position in shares of Chembio Diagnostics by 41.4% in the third quarter. Vanguard Group Inc. now owns 1,562,014 shares of the company’s stock valued at $564,000 after buying an additional 457,450 shares during the last quarter. Hedge funds and other institutional investors own 8.63% of the company’s stock.

Chembio Diagnostics Company Profile

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Chembio Diagnostics, Inc, together with its subsidiaries, develops, manufactures, and commercializes point-of-care (POC) diagnostic tests that are used to detect or diagnose diseases. The company offers tests for COVID-19, HIV and Syphilis, and Zika virus. It also develops tests for malaria, dengue, chikungunya, Chagas, ebola, leishmaniasis, lassa, marburg, leptospirosis, rickettsia, and Burkholderia diseases.

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