Biomerica (NASDAQ:BMRA) Stock Passes Below 200 Day Moving Average – Here’s Why

Biomerica, Inc. (NASDAQ:BMRA)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.67 and traded as low as $2.06. Biomerica shares last traded at $2.10, with a volume of 12,929 shares changing hands.

Biomerica Stock Down 3.2%

The company has a market capitalization of $6.34 million, a price-to-earnings ratio of -2.26 and a beta of 0.19. The firm has a 50 day moving average price of $2.46 and a two-hundred day moving average price of $2.67.

Biomerica (NASDAQ:BMRA) last issued its quarterly earnings results on Wednesday, January 14th. The company reported ($0.45) EPS for the quarter. Biomerica had a negative net margin of 90.29% and a negative return on equity of 83.73%. The business had revenue of $1.21 million during the quarter.

Institutional Trading of Biomerica

An institutional investor recently raised its position in Biomerica stock. DRW Securities LLC boosted its position in Biomerica, Inc. (NASDAQ:BMRA) by 62.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,925 shares of the company’s stock after buying an additional 6,533 shares during the quarter. DRW Securities LLC owned approximately 0.56% of Biomerica worth $43,000 at the end of the most recent quarter. 22.28% of the stock is currently owned by hedge funds and other institutional investors.

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.