Biomerica, Inc. (NASDAQ:BMRA) Sees Significant Decline in Short Interest

Biomerica, Inc. (NASDAQ:BMRAGet Rating) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 367,900 shares, a drop of 8.1% from the August 15th total of 400,200 shares. Currently, 3.3% of the company’s stock are short sold. Based on an average trading volume of 297,400 shares, the days-to-cover ratio is presently 1.2 days.

Biomerica Stock Performance

NASDAQ BMRA opened at $3.61 on Tuesday. The firm has a market cap of $48.35 million, a PE ratio of -10.03 and a beta of -0.44. Biomerica has a one year low of $2.56 and a one year high of $7.38. The firm’s fifty day moving average is $3.19 and its two-hundred day moving average is $3.45.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. acquired a new position in Biomerica in the fourth quarter valued at $53,000. Jane Street Group LLC acquired a new position in Biomerica in the first quarter valued at $57,000. Ridgewood Investments LLC acquired a new position in shares of Biomerica during the first quarter worth about $268,000. Finally, Granahan Investment Management LLC increased its stake in shares of 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 acquiring an additional 67,268 shares during the period. 18.88% of the stock is currently owned by institutional investors and hedge funds.

Biomerica Company Profile

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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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