Biomerica (NASDAQ:BMRA) Stock Passes Above 200 Day Moving Average – Here’s Why

Biomerica, Inc. (NASDAQ:BMRA) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.46 and traded as high as $0.59. Biomerica shares last traded at $0.54, with a volume of 124,851 shares changing hands.

Biomerica Trading Down 7.0 %

The company’s 50-day moving average is $0.67 and its 200 day moving average is $0.46. The stock has a market capitalization of $9.17 million, a PE ratio of -1.47 and a beta of -1.17.

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

Institutional Investors Weigh In On Biomerica

A hedge fund recently raised its stake in Biomerica stock. Granahan Investment Management LLC lifted its holdings in Biomerica, Inc. (NASDAQ:BMRA) by 24.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 658,767 shares of the company’s stock after acquiring an additional 131,306 shares during the quarter. Granahan Investment Management LLC owned 3.59% of Biomerica worth $198,000 as of its most recent SEC filing. 22.28% of the stock is currently owned by institutional investors and hedge funds.

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.