Chembio Diagnostics, Inc. (NASDAQ:CEMI) Short Interest Up 23.2% in April


Share on StockTwits

Chembio Diagnostics, Inc. (NASDAQ:CEMI) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 2,440,000 shares, a growth of 23.2% from the March 31st total of 1,980,000 shares. Based on an average trading volume of 5,230,000 shares, the short-interest ratio is currently 0.5 days.

CEMI has been the topic of several analyst reports. Colliers Securities reiterated a “buy” rating and issued a $8.00 target price on shares of Chembio Diagnostics in a report on Thursday, March 11th. Zacks Investment Research downgraded Chembio Diagnostics from a “hold” rating to a “sell” rating in a report on Tuesday, March 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $7.25.

Several institutional investors have recently made changes to their positions in the company. Perkins Capital Management Inc. acquired a new stake in shares of Chembio Diagnostics in the 1st quarter valued at approximately $1,017,000. Ikarian Capital LLC acquired a new position in shares of Chembio Diagnostics during the 4th quarter worth about $1,041,000. Sanders Morris Harris LLC bought a new stake in shares of Chembio Diagnostics in the 4th quarter valued at about $990,000. Precept Management LLC acquired a new stake in Chembio Diagnostics in the 4th quarter valued at about $713,000. Finally, Squarepoint Ops LLC acquired a new position in Chembio Diagnostics during the fourth quarter worth approximately $508,000. Institutional investors own 31.06% of the company’s stock.

NASDAQ:CEMI opened at $3.92 on Tuesday. The company has a quick ratio of 2.97, a current ratio of 4.07 and a debt-to-equity ratio of 0.54. Chembio Diagnostics has a twelve month low of $3.01 and a twelve month high of $14.83. The company has a market cap of $79.11 million, a P/E ratio of -3.21 and a beta of 2.05. The business has a 50 day moving average price of $3.96 and a two-hundred day moving average price of $5.17.

Chembio Diagnostics (NASDAQ:CEMI) last posted its quarterly earnings data on Wednesday, March 10th. The company reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.07). Chembio Diagnostics had a negative return on equity of 73.70% and a negative net margin of 76.55%. The business had revenue of $10.23 million for the quarter. As a group, analysts anticipate that Chembio Diagnostics will post -1.24 earnings per share for the current fiscal year.

Chembio Diagnostics Company Profile

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, Hepatitis C, chikungunya, Chagas, ebola, leishmaniasis, lassa, marburg, leptospirosis, Rickettsia, and Burkholderia diseases.

Further Reading: What are the benefits of momentum investing?

Receive News & Ratings for Chembio Diagnostics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chembio Diagnostics and related companies with MarketBeat.com's FREE daily email newsletter.