Biomerica, Inc. (NASDAQ:BMRA – Get Rating) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totalling 367,900 shares, a decline of 8.1% from the August 15th total of 400,200 shares. Based on an average daily trading volume, of 297,400 shares, the short-interest ratio is currently 1.2 days. Currently, 3.3% of the shares of the stock are sold short.
Institutional Trading of Biomerica
A number of institutional investors have recently added to or reduced their stakes in BMRA. Granahan Investment Management LLC boosted its holdings in Biomerica by 6.1% during the first quarter. Granahan Investment Management LLC now owns 1,169,841 shares of the company’s stock worth $5,229,000 after buying an additional 67,268 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Biomerica in the first quarter valued at about $268,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Biomerica in the fourth quarter valued at about $53,000. Finally, Jane Street Group LLC purchased a new stake in shares of Biomerica in the first quarter valued at about $57,000. Hedge funds and other institutional investors own 18.88% of the company’s stock.
Biomerica Trading Up 2.8 %
BMRA stock opened at $3.61 on Tuesday. The company has a market cap of $48.35 million, a P/E ratio of -10.03 and a beta of -0.44. Biomerica has a 52 week low of $2.56 and a 52 week high of $7.38. The company’s 50-day moving average price is $3.19 and its 200 day moving average price is $3.45.
Biomerica Company Profile
Biomerica, Inc, a biomedical technology company, develops, patents, manufactures, and markets diagnostic and therapeutic products for the 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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