Biomerica (NASDAQ:BMRA) Stock Passes Below 200 Day Moving Average – Should You Sell?

Biomerica, Inc. (NASDAQ:BMRA)’s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.15 and traded as low as $1.5833. Biomerica shares last traded at $1.60, with a volume of 2,401 shares traded.

Analysts Set New Price Targets

BMRA has been the topic of several research reports. Weiss Ratings cut shares of Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 5th. Citizens Jmp assumed coverage on Biomerica in a research note on Tuesday, May 5th. They issued a “mkt outperform” rating and a $9.00 price target on the stock. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell” and an average price target of $9.00.

Biomerica Stock Performance

The firm’s 50-day simple moving average is $1.94 and its 200 day simple moving average is $2.15. The stock has a market capitalization of $4.90 million, a P/E ratio of -1.78 and a beta of 0.33.

Institutional Trading of Biomerica

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

Biomerica Company Profile

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.