Biomerica (NASDAQ:BMRA) Shares Gap Up to $5.14

Biomerica, Inc. (NASDAQ:BMRA) gapped up prior to trading on Tuesday . The stock had previously closed at $5.14, but opened at $6.74. Biomerica shares last traded at $6.43, with a volume of 51,394 shares trading hands.

A number of equities research analysts have recently weighed in on BMRA shares. Colliers Securities initiated coverage on shares of Biomerica in a research report on Tuesday, November 10th. They issued a “buy” rating and a $13.00 price target for the company. B. Riley lowered their price objective on shares of Biomerica from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Aegis lowered their price objective on shares of Biomerica from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, October 19th.

The stock’s fifty day moving average is $5.75 and its two-hundred day moving average is $7.05. The company has a market cap of $73.69 million, a price-to-earnings ratio of -19.59 and a beta of -0.47.

Biomerica (NASDAQ:BMRA) last posted its quarterly earnings results on Thursday, October 15th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). Biomerica had a negative return on equity of 40.08% and a negative net margin of 52.42%. The company had revenue of $1.14 million during the quarter, compared to the consensus estimate of $1.09 million. On average, equities research analysts anticipate that Biomerica, Inc. will post -0.3 earnings per share for the current fiscal year.

In other news, Director Catherine Coste acquired 9,100 shares of the stock in a transaction dated Monday, October 26th. The stock was purchased at an average cost of $5.45 per share, with a total value of $49,595.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 23.70% of the company’s stock.

Large investors have recently bought and sold shares of the company. Emerald Advisers LLC purchased a new stake in shares of Biomerica during the third quarter valued at approximately $69,000. California Public Employees Retirement System bought a new position in Biomerica during the second quarter valued at approximately $107,000. Finally, Squarepoint Ops LLC lifted its position in Biomerica by 37.5% during the third quarter. Squarepoint Ops LLC now owns 19,039 shares of the company’s stock valued at $132,000 after purchasing an additional 5,197 shares during the period. Hedge funds and other institutional investors own 15.52% of the company’s stock.

About Biomerica (NASDAQ:BMRA)

Biomerica, Inc, a biomedical technology company, together with its subsidiaries, develops, patents, manufactures, and markets diagnostic and therapeutic products or detection and/or treatment of medical conditions and diseases worldwide. The company's diagnostic test kits are used to analyze blood, urine, or fecal specimens from patients in the diagnosis of various diseases and other medical complications; or to measure the level of specific bacteria, hormones, antibodies, antigens, or other substances, which exist in the patient's body and stools or blood in extremely small concentrations.

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