Short Interest in Biomerica, Inc. (NASDAQ:BMRA) Drops By 32.4%

Biomerica, Inc. (NASDAQ:BMRA) saw a large drop in short interest in July. As of July 15th, there was short interest totaling 22,058 shares, a drop of 32.4% from the June 30th total of 32,611 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average trading volume of 6,993 shares, the short-interest ratio is presently 3.2 days.

Biomerica Trading Down 6.3%

BMRA stock opened at $1.49 on Friday. The firm has a market cap of $4.60 million, a P/E ratio of -1.67 and a beta of 0.33. Biomerica has a 12-month low of $1.47 and a 12-month high of $4.60. The stock’s 50 day simple moving average is $1.86 and its 200 day simple moving average is $2.11.

Wall Street Analyst Weigh In

BMRA has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 5th. Citizens Jmp assumed coverage on shares of Biomerica in a research report on Tuesday, May 5th. They set a “mkt outperform” rating and a $9.00 price target on the stock. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell” and a consensus target price of $9.00.

Institutional Trading of Biomerica

An institutional investor recently raised its position in Biomerica stock. DRW Securities LLC lifted its holdings in Biomerica, Inc. (NASDAQ:BMRA) by 62.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 16,925 shares of the company’s stock after buying an additional 6,533 shares during the quarter. DRW Securities LLC owned approximately 0.56% of Biomerica worth $43,000 as of its most recent filing with the SEC. 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.