Chembio Diagnostics (NASDAQ:CEMI) Announces Earnings Results, Misses Estimates By $0.05 EPS

Chembio Diagnostics (NASDAQ:CEMI) posted its quarterly earnings data on Thursday. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.05), Fidelity Earnings reports. Chembio Diagnostics had a negative net margin of 32.95% and a negative return on equity of 39.62%. The firm had revenue of $9.72 million during the quarter.

NASDAQ:CEMI traded down $0.47 during midday trading on Friday, reaching $4.54. The stock had a trading volume of 153,300 shares, compared to its average volume of 50,394. The firm has a fifty day simple moving average of $5.77 and a two-hundred day simple moving average of $6.15. Chembio Diagnostics has a 12-month low of $4.39 and a 12-month high of $7.90. The stock has a market cap of $94.85 million, a P/E ratio of -8.25 and a beta of 1.68. The company has a quick ratio of 1.98, a current ratio of 3.38 and a debt-to-equity ratio of 0.25.

CEMI has been the topic of a number of analyst reports. Canaccord Genuity reiterated a “buy” rating and issued a $10.00 price objective on shares of Chembio Diagnostics in a research report on Monday, July 22nd. ValuEngine lowered shares of Chembio Diagnostics from a “buy” rating to a “hold” rating in a research report on Monday, November 4th.

Chembio Diagnostics Company 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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Earnings History for Chembio Diagnostics (NASDAQ:CEMI)

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