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

Biomerica, Inc. (NASDAQ:BMRA) was the target of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 143,900 shares, a decrease of 65.7% from the February 13th total of 419,000 shares. Based on an average daily trading volume, of 7,140,000 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.9% of the shares of the stock are short sold.

Biomerica Price Performance

Shares of Biomerica stock traded up $0.05 during trading on Friday, hitting $0.62. The stock had a trading volume of 194,236 shares, compared to its average volume of 2,215,613. The firm has a market cap of $11.40 million, a P/E ratio of -1.83 and a beta of -1.16. The business has a fifty day moving average of $0.62 and a two-hundred day moving average of $0.43. Biomerica has a fifty-two week low of $0.24 and a fifty-two week high of $1.27.

Biomerica (NASDAQ:BMRA) last announced its quarterly earnings data on Tuesday, January 14th. The company reported ($0.06) earnings per share for the quarter. Biomerica had a negative net margin of 100.52% and a negative return on equity of 90.19%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Biomerica stock. Granahan Investment Management LLC increased its position in Biomerica, Inc. (NASDAQ:BMRA) by 24.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 658,767 shares of the company’s stock after purchasing an additional 131,306 shares during the period. Granahan Investment Management LLC owned about 3.59% of Biomerica worth $198,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 22.28% 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.