Roubaix Capital LLC bought a new stake in shares of Chembio Diagnostics Inc (NASDAQ:CEMI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 162,500 shares of the company’s stock, valued at approximately $990,000. Roubaix Capital LLC owned 0.95% of Chembio Diagnostics at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Marshall Wace North America L.P. bought a new stake in Chembio Diagnostics during the 1st quarter valued at $48,000. Spark Investment Management LLC raised its holdings in Chembio Diagnostics by 28.7% during the 1st quarter. Spark Investment Management LLC now owns 26,510 shares of the company’s stock valued at $147,000 after acquiring an additional 5,910 shares during the period. Mesirow Financial Investment Management Inc. bought a new stake in Chembio Diagnostics during the 2nd quarter valued at $219,000. BlackRock Inc. raised its holdings in Chembio Diagnostics by 8.8% during the 4th quarter. BlackRock Inc. now owns 50,282 shares of the company’s stock valued at $285,000 after acquiring an additional 4,083 shares during the period. Finally, Northern Trust Corp raised its holdings in Chembio Diagnostics by 47.1% during the 4th quarter. Northern Trust Corp now owns 53,868 shares of the company’s stock valued at $305,000 after acquiring an additional 17,258 shares during the period. 39.32% of the stock is currently owned by institutional investors and hedge funds.
CEMI has been the topic of a number of analyst reports. ValuEngine raised shares of Chembio Diagnostics from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Benchmark lowered their target price on shares of Chembio Diagnostics from $14.00 to $9.00 and set a “buy” rating on the stock in a report on Monday, June 17th. Finally, Canaccord Genuity reissued a “buy” rating and set a $10.00 target price on shares of Chembio Diagnostics in a report on Monday, July 22nd.
Shares of Chembio Diagnostics stock traded down $0.01 during trading on Friday, hitting $5.99. The stock had a trading volume of 44,533 shares, compared to its average volume of 33,682. Chembio Diagnostics Inc has a 12 month low of $4.85 and a 12 month high of $11.55. The company’s 50-day moving average price is $5.92. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.38 and a current ratio of 3.73.
Chembio Diagnostics (NASDAQ:CEMI) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.03). The firm had revenue of $9.59 million during the quarter, compared to the consensus estimate of $8.65 million. Chembio Diagnostics had a negative return on equity of 39.60% and a negative net margin of 32.95%. Sell-side analysts predict that Chembio Diagnostics Inc will post -0.54 earnings per share for the current year.
Chembio Diagnostics 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 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.
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