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 February. As of February 28th, there was short interest totalling 143,900 shares, a drop of 65.7% from the February 13th total of 419,000 shares. Based on an average daily volume of 7,140,000 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.9% of the company’s stock are short sold.

Biomerica Price Performance

Biomerica stock traded up $0.05 during trading hours on Friday, hitting $0.62. The company had a trading volume of 194,236 shares, compared to its average volume of 2,215,613. Biomerica has a fifty-two week low of $0.24 and a fifty-two week high of $1.27. The firm has a market capitalization of $11.40 million, a P/E ratio of -1.83 and a beta of -1.16. The firm’s fifty day moving average is $0.62 and its 200-day moving average is $0.43.

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

Hedge Funds Weigh In On Biomerica

A hedge fund recently raised its stake in Biomerica stock. Granahan Investment Management LLC boosted its holdings in shares of Biomerica, Inc. (NASDAQ:BMRA) by 24.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 658,767 shares of the company’s stock after buying an additional 131,306 shares during the quarter. Granahan Investment Management LLC owned about 3.59% of Biomerica worth $198,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 22.28% of the company’s stock.

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.