Biomerica, Inc. (NASDAQ:BMRA – Get Free Report) was the recipient of a significant decline in short interest in the month of September. As of September 15th, there was short interest totaling 37,158 shares, a decline of 35.8% from the August 31st total of 57,854 shares. Based on an average trading volume of 39,597 shares, the days-to-cover ratio is presently 0.9 days. Currently, 1.5% of the company’s shares are sold short.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Biomerica in a report on Wednesday, September 2nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell” and a consensus target price of $9.00.
Read Our Latest Research Report on BMRA
Biomerica Price Performance
Biomerica (NASDAQ:BMRA – Get Free Report) last issued its quarterly earnings results on Monday, August 31st. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.82. The company had revenue of $0.88 million during the quarter, compared to analysts’ expectations of $3.63 million. Biomerica had a negative net margin of 84.79% and a negative return on equity of 97.19%.
Insider Activity
In other Biomerica news, CEO Zackary S. Irani bought 31,250 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were bought at an average cost of $1.60 per share, with a total value of $50,000.00. Following the completion of the purchase, the chief executive officer directly owned 242,570 shares of the company’s stock, valued at $388,112. This trade represents a 14.79% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Allen Barbieri bought 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average cost of $1.60 per share, for a total transaction of $32,000.00. Following the completion of the purchase, the insider directly owned 73,542 shares of the company’s stock, valued at $117,667.20. The trade was a 37.35% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 92,500 shares of company stock valued at $148,000. Insiders own 18.00% of the company’s stock.
Institutional Inflows and Outflows
An institutional investor recently bought a new stake in Biomerica stock. BlackRock Inc. bought a new position in Biomerica, Inc. (NASDAQ:BMRA – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 18,636 shares of the company’s stock, valued at approximately $33,000. BlackRock Inc. owned approximately 0.60% of Biomerica at the end of the most recent quarter. 22.28% of the stock is owned by hedge funds and other institutional investors.
About Biomerica
Biomerica, Inc is a medical technology company that develops, manufactures and commercializes diagnostic and therapeutic products, with a primary focus on gastrointestinal disorders and other medical conditions. The company is headquartered in Irvine, California, and serves healthcare providers and patients in the United States and selected international markets through direct sales and distribution relationships.
Biomerica’s principal product is inFoods IBS, a diagnostic-guided dietary management program for irritable bowel syndrome.
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