Biomerica (NASDAQ:BMRA) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Biomerica, Inc. (NASDAQ:BMRA) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.03 and traded as low as $1.56. Biomerica shares last traded at $1.56, with a volume of 4,648 shares traded.

Analyst Ratings Changes

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

Biomerica Trading Down 2.4%

The company has a market capitalization of $4.82 million, a P/E ratio of -1.76 and a beta of 0.35. The stock’s fifty day moving average is $1.70 and its 200 day moving average is $2.02.

Institutional Trading of Biomerica

An institutional investor recently raised its position in Biomerica stock. DRW Securities LLC boosted its holdings in shares of Biomerica, Inc. (NASDAQ:BMRA) by 62.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,925 shares of the company’s stock after purchasing an additional 6,533 shares during the period. DRW Securities LLC owned about 0.56% of Biomerica worth $43,000 at the end of the most recent reporting period. 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.