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

Biomerica, Inc. (NASDAQ:BMRA) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 66,500 shares, a decrease of 13.3% from the March 15th total of 76,700 shares. Based on an average daily trading volume, of 59,100 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Trading of Biomerica

Hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP lifted its holdings in Biomerica by 69.6% in the first quarter. Wasatch Advisors LP now owns 974,973 shares of the company’s stock valued at $1,823,000 after buying an additional 400,000 shares during the period. Vanguard Group Inc. increased its position in shares of Biomerica by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 609,365 shares of the company’s stock worth $762,000 after acquiring an additional 42,833 shares in the last quarter. Potomac Capital Management Inc. bought a new stake in shares of Biomerica during the first quarter worth $808,000. Point72 Asset Management L.P. bought a new stake in shares of Biomerica during the fourth quarter worth $1,407,000. Finally, Boothbay Fund Management LLC increased its position in shares of Biomerica by 14.4% during the second quarter. Boothbay Fund Management LLC now owns 294,379 shares of the company’s stock worth $400,000 after acquiring an additional 36,955 shares in the last quarter. 22.28% of the stock is owned by institutional investors.

Biomerica Price Performance

Shares of BMRA traded down $0.03 during mid-day trading on Tuesday, hitting $0.74. 63,942 shares of the company traded hands, compared to its average volume of 84,702. Biomerica has a one year low of $0.70 and a one year high of $2.13. The business has a 50-day moving average of $0.99 and a 200 day moving average of $0.97.

Biomerica (NASDAQ:BMRA) last released its quarterly earnings results on Friday, April 12th. The company reported ($0.11) EPS for the quarter. Biomerica had a negative net margin of 117.46% and a negative return on equity of 59.76%. The company had revenue of $1.02 million for the quarter.

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.