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

Biomerica, Inc. (NASDAQ:BMRA) was the target of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 371,700 shares, a drop of 33.9% from the October 31st total of 562,400 shares. Based on an average daily volume of 442,900 shares, the short-interest ratio is currently 0.8 days.

Hedge Funds Weigh In On Biomerica

A hedge fund recently bought a new stake in Biomerica stock. Perritt Capital Management Inc bought a new position in Biomerica, Inc. (NASDAQ:BMRA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 70,000 shares of the company’s stock, valued at approximately $31,000. Perritt Capital Management Inc owned about 0.42% of Biomerica at the end of the most recent reporting period. 22.28% of the stock is currently owned by institutional investors and hedge funds.

Biomerica Stock Performance

Shares of BMRA stock traded up $0.07 during trading hours on Friday, hitting $0.39. 25,051,793 shares of the company were exchanged, compared to its average volume of 382,753. Biomerica has a fifty-two week low of $0.24 and a fifty-two week high of $2.13. The company has a 50 day simple moving average of $0.34 and a two-hundred day simple moving average of $0.40. The firm has a market cap of $6.55 million, a P/E ratio of -1.05 and a beta of -1.13.

Biomerica (NASDAQ:BMRA) last issued its quarterly earnings results on Tuesday, October 15th. The company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $1.81 million for the quarter. Biomerica had a negative net margin of 111.89% and a negative return on equity of 84.62%.

About Biomerica

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.