Biomerica, Inc. (NASDAQ:BMRA) Sees Large Increase in Short Interest

Biomerica, Inc. (NASDAQ:BMRA) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 73,534 shares, an increase of 63.0% from the March 15th total of 45,117 shares. Currently, 3.0% of the shares of the company are sold short. Based on an average daily volume of 26,031 shares, the days-to-cover ratio is presently 2.8 days.

Institutional Investors Weigh In On Biomerica

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

Biomerica Stock Down 2.3%

BMRA stock opened at $2.08 on Tuesday. Biomerica has a twelve month low of $1.87 and a twelve month high of $4.88. The company has a market cap of $6.28 million, a PE ratio of -2.24 and a beta of 0.20. The business’s 50-day simple moving average is $2.14 and its 200 day simple moving average is $2.44.

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

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.