Chembio Diagnostics Inc (NASDAQ:CEMI) hit a new 52-week low during trading on Friday following a weaker than expected earnings announcement. The company traded as low as $6.44 and last traded at $7.07, with a volume of 4800 shares traded. The stock had previously closed at $7.25.
The company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.10). Chembio Diagnostics had a negative return on equity of 26.91% and a negative net margin of 16.54%.
In other news, insider Robert Passas purchased 15,000 shares of Chembio Diagnostics stock in a transaction dated Monday, November 5th. The shares were purchased at an average price of $6.75 per share, with a total value of $101,250.00. Following the transaction, the insider now owns 15,000 shares in the company, valued at $101,250. The purchase was disclosed in a document filed with the SEC, which is available through this link. 4.65% of the stock is currently owned by insiders.
The stock has a market cap of $101.23 million, a P/E ratio of -13.21 and a beta of 1.46. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.58 and a current ratio of 3.53.
Chembio Diagnostics Company Profile (NASDAQ:CEMI)
Chembio Diagnostics, Inc, together with its subsidiaries, develops, manufactures, and commercializes point-of-care (POC) diagnostic tests that are used to detect or monitor diseases. It offers tests for HIV and Syphilis, and Zika virus. The company also develops tests for malaria, Dengue virus, chikungunya virus, Ebola, Lassa, Marburg, leptospirosis, Rickettsia typhi, Burkholderia pseudomallei, and Orientia tsutsugamushi.
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