Biomerica (NASDAQ:BMRA) Stock Passes Below Two Hundred Day Moving Average of $1.23

Biomerica, Inc. (NASDAQ:BMRA)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.23 and traded as low as $0.84. Biomerica shares last traded at $0.84, with a volume of 22,046 shares trading hands.

Biomerica Stock Performance

The stock has a market cap of $14.15 million, a price-to-earnings ratio of -2.05 and a beta of -0.64. The company’s 50 day simple moving average is $0.96 and its two-hundred day simple moving average is $1.23.

Biomerica (NASDAQ:BMRA) last issued its earnings results on Thursday, October 12th. The company reported ($0.07) earnings per share for the quarter. Biomerica had a negative return on equity of 69.43% and a negative net margin of 114.52%. The firm had revenue of $1.71 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Granahan Investment Management LLC increased its position in Biomerica by 3.1% during the first quarter. Granahan Investment Management LLC now owns 1,157,536 shares of the company’s stock worth $2,165,000 after buying an additional 34,835 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of Biomerica by 69.6% during the 1st quarter. Wasatch Advisors LP now owns 974,973 shares of the company’s stock valued at $1,823,000 after acquiring an additional 400,000 shares during the last quarter. Potomac Capital Management Inc. acquired a new position in shares of Biomerica during the 1st quarter valued at about $808,000. Point72 Asset Management L.P. acquired a new position in shares of Biomerica during the 4th quarter valued at about $1,407,000. Finally, Boothbay Fund Management LLC grew its holdings in Biomerica by 14.4% during the second quarter. Boothbay Fund Management LLC now owns 294,379 shares of the company’s stock valued at $400,000 after purchasing an additional 36,955 shares during the last quarter. Institutional investors and hedge funds own 26.25% of the company’s stock.

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, nasal or fecal specimens from patients in the diagnosis of various diseases, food intolerances, and other medical complications; or to measure bacteria, hormones, antibodies, antigens, or other substances which may exist in the human body, stools, or blood in extremely small concentrations.