Chembio Diagnostics Inc. (NASDAQ: CEMI) is 18.74% higher on its value in year-to-date trading and has touched a low of $3.01 and a high of $15.89 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CEMI stock was last observed hovering at around $3.52 in the last trading session, with the day’s gains setting it 2.12% off its average median price target of $9.00 for the next 12 months. It is also 43.6% off the consensus price target high of $10.00 offered by 3 analysts, but current levels are 29.5% higher than the price target low of $8.00 for the same period.
Currently trading at $5.64, the stock is 36.83% and 1.56% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 262.08 million and changing 60.23% at the moment leaves the stock 11.48% off its SMA200. CEMI registered -17.18% loss for a year compared to 6-month loss of 16.29%. The firm has a 50-day simple moving average (SMA 50) of $4.76 and a 200-day simple moving average (SMA200) of $5.30.
The stock witnessed a 29.36% gain in the last 1 month and extending the period to 3 months gives it a 18.74%, and is 50.80% 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 11.41% over the week and 9.84% over the month.
Chembio Diagnostics Inc. (CEMI) has around 355 employees, a market worth around $113.42M and $32.50M in sales. Profit margin for the company is -78.60%. Distance from 52-week low is 87.38% and -64.51% from its 52-week high. The company has generated returns on investments over the last 12 months (-49.00%).
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 08/12/2021 and quarterly earnings per share for the current quarter are estimated at -$0.32 with sales reaching $8.19M over the same period.The EPS is expected to shrink by -65.80% this year, but quarterly earnings will post 13.20% year-over-year. Quarterly sales are estimated to grow 19.40% in year-over-year returns.
Chembio Diagnostics Inc. (CEMI) Top Institutional Holders
107 institutions hold shares in Chembio Diagnostics Inc. (CEMI), with 1.79M shares held by insiders accounting for 8.85% while institutional investors hold 47.87% of the company’s shares. The shares outstanding are 20.16M, and float is at 17.38M with Short Float at 11.39%. Institutions hold 43.63% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 1.2 million shares valued at $5.7 million. The investor’s holdings represent 5.94% of the CEMI Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 1.04 million shares valued at $4.93 million to account for 5.14% of the shares outstanding. The other top investors are Segall Bryant & Hamill LLC which holds 0.71 million shares representing 3.50% and valued at over $3.35 million, while Friess Associates Inc holds 2.75% of the shares totaling 0.56 million with a market value of $2.64 million.
Chembio Diagnostics Inc. (CEMI) Insider Activity
A total of 5 insider transactions have happened at Chembio Diagnostics Inc. (CEMI) in the last six months, with sales accounting for 3 and purchases happening 2 times.
Chembio Diagnostics Inc. (CEMI): Who are the competitors?
The company’s main competitors (and peers) include OraSure Technologies Inc. (OSUR) that is 6.73% higher over the past 12 months. Bio-Rad Laboratories Inc. (BIO) is 61.56% up on the 1-year trading charts. Short interest in the company’s stock has fallen -59.6% from the last report on Feb 11, 2021 to stand at a total of 3.16 million short shares sold with a short interest ratio of 2.44.