Chembio Diagnostics (NASDAQ:CEMI) Research Coverage Started at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Chembio Diagnostics (NASDAQ:CEMI – Get Rating) in a report issued on Wednesday. The brokerage set a “hold” rating on the stock.

Chembio Diagnostics Stock Performance

CEMI opened at $0.46 on Wednesday. Chembio Diagnostics has a fifty-two week low of $0.19 and a fifty-two week high of $1.24. The company has a fifty day moving average of $0.43 and a two-hundred day moving average of $0.37. The stock has a market capitalization of $16.71 million, a price-to-earnings ratio of -0.38 and a beta of 1.85.

Insider Buying and Selling at Chembio Diagnostics

In other news, major shareholder Credit Advisors Ll Perceptive acquired 339,000 shares of the business’s stock in a transaction on Thursday, April 6th. The stock was bought at an average price of $0.44 per share, with a total value of $149,160.00. Following the completion of the acquisition, the insider now owns 4,425,100 shares of the company’s stock, valued at $1,947,044. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders bought 1,055,578 shares of company stock valued at $468,371. Corporate insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Chembio Diagnostics

Institutional investors have recently bought and sold shares of the company. Signaturefd LLC boosted its holdings in Chembio Diagnostics by 98.0% in the 3rd quarter. Signaturefd LLC now owns 69,300 shares of the company’s stock worth $25,000 after buying an additional 34,300 shares during the last quarter. HRT Financial LP acquired a new stake in Chembio Diagnostics in the 1st quarter worth about $42,000. Renaissance Technologies LLC boosted its holdings in Chembio Diagnostics by 383.4% in the 3rd quarter. Renaissance Technologies LLC now owns 113,600 shares of the company’s stock worth $41,000 after buying an additional 90,100 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Chembio Diagnostics in the 1st quarter worth about $102,000. Finally, Virtu Financial LLC boosted its holdings in Chembio Diagnostics by 77.7% in the 1st quarter. Virtu Financial LLC now owns 143,265 shares of the company’s stock worth $63,000 after buying an additional 62,646 shares during the last quarter. 8.65% of the stock is currently owned by institutional investors and hedge funds.

Chembio Diagnostics Company Profile

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Chembio Diagnostics, Inc engages in the developing, manufacturing, marketing, and licensing of rapid medical tests. It offers rapid point-of-care tests for infectious, tropical and fever, and respiratory diseases, handheld analyzers, and veterinary products. The firm distributes its products to hospitals and clinics, physician offices, clinical laboratories, public health organizations, government agencies, and consumers.