Investing action plan for Tortoise Acquisition Corp. (SHLL) And Chembio Diagnostics Inc. (CEMI)

Tortoise Acquisition Corp. (NYSE: SHLL) shares are 289.19% up in the year-to-date (YTD) period and have moved -2.80% or -$1.12 lower in the latest trading session. However, stock’s trailing 12-month performance remains nearly +309.26% lower. Comparatively, the stock is -9.26% down YTD and 291.94% over the trailing 3-month period. If we look at the shorter duration, its week performance is 46.17% and 104.63% over the month.

Analyst Recommendations

0 recommend buying, with 0 rating it as an Overweight.

Insider Transactions Summary

According to SEC data, total insider shares purchases at the company stands at 0 over the last 12 months, while SEC filings reveal that there have been 4 insider sales over the same period. Insiders have purchases 0 shares while those sold by company executives and officers stand at 1,550,000. The last 3 months have seen insiders trade a total of 0 and 1,550,000 in purchases and sales respectively.

The 10% Owner had earlier sold another 1,550,000 SHLL shares valued at $21.45 million on Jun 19. The shares were sold at $13.84 per share.

Chembio Diagnostics Inc. (NASDAQ:CEMI), on the other hand, is trading around $4.70 with a market cap of $97.52M and analyst research firms have a negative stance on its shares. Analysts predict that the stock will reach $5.00 and spell out a more modest performance – a 6.0% return. Some analysts are even forecasting -$1.22 per share in earnings this year on a short term (1 year) basis.

Let us briefly look at the Chembio Diagnostics Inc. (CEMI) financials, with a focus on its operating details as indicated in its earnings report for the last quarter.

Company balance sheet and cash flow

CEMI’s operating margin was negative on the trailing 12 months basis, remaining steady at -65.00%, while the operating expenses over the recent quarter were at $7.38 million. This represented a -44.36% of the company’s total revenues which amounted $5.11 million. With this in place, we can see that the company’s diluted EPS declined -$0.42 on the year-over-year period, shrinking to -$0.19 as given in the last earnings report.

In terms of the balance sheet & cash flow as of (Sep 2020), the total assets figure advanced to $77.96 million from $51.19 million over the previous quarter. The cash flow from operating activities totaled -$7.33 million, significantly lower than the -$7.09 million reported in the year-ago quarter. The company’s free cash flow for the quarter was -$9.68 million.

Insider activity

Insiders have transacted a total of 1 times at Chembio Diagnostics Inc. over the last 6 months, with insider purchases undertaken 0 times and accounting for 0 shares. Insider sales totaled 8,810 shares over the same period, with these deals completed in 1 transactions. Looking at these numbers, we realize that net purchases over that period are -1.0 shares. Insiders now hold a total of 3.85M shares after the latest sales, with 0.00% net shares purchased.

Major holders

Insiders own 0.20% of the company shares, while shares held by institutions stand at 43.70% with a share float percentage of 17.30M. Investors are also buoyed by the number of investors in a company, with Chembio Diagnostics Inc. having a total of 50 institutions that hold shares in the company.