Why has Chembio Diagnostics Inc. (CEMI) gained 18.92% in last trading?

Chembio Diagnostics Inc. (NASDAQ: CEMI) is 13.47% higher on its value in year-to-date trading and has touched a low of $2.25 and a high of $15.89 in the current 52-week trading range. The CEMI stock was last observed hovering at around $5.39 in the last trading session, with the day’s gains setting it 1.02% off its average median price target of $9.00 for the next 12 months. It is also 35.9% off the consensus price target high of $10.00 offered by 3 analysts, but current levels are 19.88% higher than the price target low of $8.00 for the same period.

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Currently trading at $6.41, the stock is 23.48% and 21.44% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.81 million and changing 18.92% at the moment leaves the stock 0.27% off its SMA200. CEMI registered 29.57% gain for a year compared to 6-month gain of 5.69%. The firm has a 50-day simple moving average (SMA 50) of $5.60 and a 200-day simple moving average (SMA200) of $4.94.

The stock witnessed a -8.64% loss in the last 1 month and extending the period to 3 months gives it a 13.24%, and is 8.89% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.96% over the week and 6.99% over the month.

Chembio Diagnostics Inc. (CEMI) has around 295 employees, a market worth around $107.26M and $29.10M in sales. Profit margin for the company is -76.50%. Distance from 52-week low is 184.89% and -59.66% from its 52-week high. The company has generated returns on investments over the last 12 months (-30.50%).

Chembio Diagnostics Inc. (CEMI) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Chembio Diagnostics Inc. (CEMI) is a “Overweight”. 3 analysts offering their recommendations for the stock have an average rating of 2.00, where 1 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Chembio Diagnostics Inc. is expected to release its quarterly report on 05/13/2021 and quarterly earnings per share for the current quarter are estimated at -$0.28 with sales reaching $5.77M over the same period.The EPS is expected to shrink by -48.00% this year, but quarterly earnings will post -18.70% year-over-year. Quarterly sales are estimated to shrink -15.80% in year-over-year returns.

Chembio Diagnostics Inc. (CEMI) Top Institutional Holders

91 institutions hold shares in Chembio Diagnostics Inc. (CEMI), with 2.8M shares held by insiders accounting for 13.89% while institutional investors hold 39.19% of the company’s shares. The shares outstanding are 20.11M, and float is at 17.37M with Short Float at 22.28%. Institutions hold 33.75% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 1.31 million shares valued at $6.35 million. The investor’s holdings represent 6.47% of the CEMI Shares outstanding. As of Sep 29, 2020, the second largest holder is Blackrock Inc. with 1.17 million shares valued at $5.68 million to account for 5.80% of the shares outstanding. The other top investors are Segall Bryant & Hamill LLC which holds 0.63 million shares representing 3.11% and valued at over $3.05 million, while Royce & Associates LP holds 2.44% of the shares totaling 0.49 million with a market value of $2.39 million.

Chembio Diagnostics Inc. (CEMI) Insider Activity

A total of 0 insider transactions have happened at Chembio Diagnostics Inc. (CEMI) in the last six months, with sales accounting for 0 and purchases happening 0 times.

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Chembio Diagnostics Inc. (CEMI): Who are the competitors?

The company’s main competitors (and peers) include OraSure Technologies Inc. (OSUR) that is 55.89% higher over the past 12 months. Bio-Rad Laboratories Inc. (BIO) is 57.31% up on the 1-year trading charts. Short interest in the company’s stock has risen 5.0% from the last report on Nov 29, 2020 to stand at a total of 3.61 million short shares sold with a short interest ratio of 1.74.

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