Ingalls & Snyder LLC grew its position in shares of Chembio Diagnostics Inc (NASDAQ:CEMI) by 2.0% during the fourth quarter, HoldingsChannel reports. The firm owned 309,244 shares of the company’s stock after buying an additional 6,000 shares during the period. Ingalls & Snyder LLC’s holdings in Chembio Diagnostics were worth $1,410,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of CEMI. Marshall Wace North America L.P. purchased a new stake in shares of Chembio Diagnostics during the first quarter valued at approximately $48,000. Wells Fargo & Company MN raised its stake in shares of Chembio Diagnostics by 6.2% during the second quarter. Wells Fargo & Company MN now owns 329,377 shares of the company’s stock valued at $2,006,000 after purchasing an additional 19,152 shares during the period. LPL Financial LLC purchased a new stake in shares of Chembio Diagnostics during the second quarter valued at approximately $215,000. HighTower Advisors LLC purchased a new stake in shares of Chembio Diagnostics during the second quarter valued at approximately $90,000. Finally, BlackRock Inc. raised its stake in shares of Chembio Diagnostics by 288.7% during the second quarter. BlackRock Inc. now owns 190,838 shares of the company’s stock valued at $1,163,000 after purchasing an additional 141,742 shares during the period. Institutional investors own 42.04% of the company’s stock.
CEMI opened at $4.16 on Thursday. The firm has a market capitalization of $73.07 million, a P/E ratio of -7.56 and a beta of 1.58. The firm’s 50 day moving average is $4.53 and its 200-day moving average is $5.35. Chembio Diagnostics Inc has a 52-week low of $3.80 and a 52-week high of $7.90. The company has a quick ratio of 4.50, a current ratio of 5.86 and a debt-to-equity ratio of 0.95.
Chembio Diagnostics (NASDAQ:CEMI) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.05). The firm had revenue of $9.72 million for the quarter. Chembio Diagnostics had a negative net margin of 36.80% and a negative return on equity of 42.54%. Equities analysts expect that Chembio Diagnostics Inc will post -0.83 earnings per share for the current fiscal year.
Separately, ValuEngine upgraded shares of Chembio Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th.
In related news, Director John Gary Potthoff purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of $4.44 per share, for a total transaction of $44,400.00. Following the completion of the purchase, the director now owns 37,772 shares in the company, valued at $167,707.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.90% of the stock is currently owned by insiders.
About Chembio Diagnostics
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 HIV and Syphilis, and Zika virus. It also develops tests for malaria, dengue virus, chikungunya virus, ebola, lassa, marburg, leptospirosis, Rickettsia typhi, Burkholderia pseudomallei, and Orientia tsutsugamushi.
Further Reading: Price to Earnings Ratio (PE) Basics
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