Biomerica (NASDAQ:BMRA) Share Price Breaks Below 200 Day Moving Average – Should You Sell?

Shares of Biomerica, Inc. (NASDAQ:BMRA) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $2.02 and traded as low as $1.86. Biomerica shares last traded at $1.89, with a volume of 6,617 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Biomerica in a research note on Wednesday, September 2nd. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock has a consensus rating of “Sell” and an average price target of $9.00.

Biomerica Price Performance

The company has a 50-day simple moving average of $2.02 and a 200-day simple moving average of $2.02. The stock has a market cap of $5.65 million, a PE ratio of -1.44 and a beta of 0.38.

Biomerica (NASDAQ:BMRA) last released its quarterly earnings data on Monday, August 31st. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.82. Biomerica had a negative net margin of 84.79% and a negative return on equity of 97.19%. The firm had revenue of $0.88 million for the quarter, compared to the consensus estimate of $3.63 million.

Insider Buying and Selling

In other news, Vice Chairman Allen Barbieri acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was purchased at an average cost of $1.60 per share, with a total value of $32,000.00. Following the purchase, the insider directly owned 73,542 shares of the company’s stock, valued at approximately $117,667.20. This trade represents a 37.35% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director M. Huff Gary acquired 31,250 shares of Biomerica stock in a transaction that occurred on Thursday, August 20th. The shares were purchased at an average cost of $1.60 per share, with a total value of $50,000.00. Following the completion of the acquisition, the director owned 51,250 shares of the company’s stock, valued at $82,000. The trade was a 156.25% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 92,500 shares of company stock worth $148,000 in the last quarter. Company insiders own 18.00% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Biomerica stock. BlackRock Inc. bought a new stake in shares of Biomerica, Inc. (NASDAQ:BMRA) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 18,636 shares of the company’s stock, valued at approximately $33,000. BlackRock Inc. owned approximately 0.60% of Biomerica at the end of the most recent quarter. Institutional investors own 22.28% of the company’s stock.

Biomerica Company Profile

Biomerica, Inc is a medical diagnostics company that develops and commercializes products designed to help diagnose and manage gastrointestinal and other health conditions. The company focuses on tests and related solutions intended to support more personalized treatment decisions.

Biomerica’s best-known product platform is inFoods, which uses blood-based testing to identify foods that may contribute to symptoms associated with gastrointestinal disorders. The company has emphasized inFoods IBS, a diagnostic-guided dietary management solution for people with irritable bowel syndrome, pairing test results with individualized food recommendations.

Biomerica also has developed and marketed diagnostic products for conditions including Helicobacter pylori infection, allergies and respiratory illnesses.