Biomerica (NASDAQ:BMRA) Announces Quarterly Earnings Results

Biomerica (NASDAQ:BMRA) released its earnings results on Monday. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.88) by $0.50, FiscalAI reports. Biomerica had a negative net margin of 96.49% and a negative return on equity of 98.14%. The firm had revenue of $0.88 million for the quarter, compared to analysts’ expectations of $2.22 million.

Biomerica Stock Down 2.3%

BMRA stock traded down $0.05 during trading on Monday, hitting $2.09. The company had a trading volume of 50,425 shares, compared to its average volume of 37,673. The firm has a 50-day moving average price of $1.67 and a 200-day moving average price of $1.99. The stock has a market cap of $6.46 million, a price-to-earnings ratio of -2.35 and a beta of 0.35. Biomerica has a 12 month low of $1.45 and a 12 month high of $3.22.

Insiders Place Their Bets

In other Biomerica news, CEO Zackary S. Irani bought 31,250 shares of Biomerica stock in a transaction dated Wednesday, August 26th. The shares were bought at an average price of $1.60 per share, with a total value of $50,000.00. Following the purchase, the chief executive officer owned 242,570 shares of the company’s stock, valued at $388,112. This trade represents a 14.79% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Allen Barbieri acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average price of $1.60 per share, for a total transaction of $32,000.00. Following the completion of the acquisition, the insider directly owned 73,542 shares of the company’s stock, valued at $117,667.20. This trade represents a 37.35% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 92,500 shares of company stock valued at $148,000. 18.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Biomerica stock. DRW Securities LLC lifted its position in shares of Biomerica, Inc. (NASDAQ:BMRA) by 62.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,925 shares of the company’s stock after purchasing an additional 6,533 shares during the quarter. DRW Securities LLC owned 0.56% of Biomerica worth $43,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 22.28% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on BMRA shares. Weiss Ratings cut shares of Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 5th. Citizens Jmp assumed coverage on 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 research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell” and an average price target of $9.00.

About Biomerica

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.