Chembio Diagnostics, Inc. (NASDAQ:CEMI) issued its quarterly earnings data on Wednesday. The company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by $0.02, Bloomberg Earnings reports. The business had revenue of $2.89 million during the quarter, compared to the consensus estimate of $4.96 million. Chembio Diagnostics had a negative return on equity of 54.92% and a negative net margin of 87.81%.
Shares of Chembio Diagnostics (NASDAQ CEMI) remained flat at $6.15 during midday trading on Thursday. The company had a trading volume of 11,940 shares. The firm’s 50-day moving average price is $6.26 and its 200 day moving average price is $6.06. Chembio Diagnostics has a 12-month low of $5.05 and a 12-month high of $7.47. The firm’s market capitalization is $75.64 million.
TRADEMARK VIOLATION NOTICE: “Chembio Diagnostics, Inc. (CEMI) Posts Earnings Results, Misses Expectations By $0.02 EPS” was originally reported by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international trademark and copyright law. The original version of this piece of content can be viewed at https://stocknewstimes.com/2017/08/10/chembio-diagnostics-inc-cemi-posts-earnings-results-misses-expectations-by-0-02-eps.html.
In other Chembio Diagnostics news, insider Norman H. Pessin bought 36,250 shares of the business’s stock in a transaction dated Wednesday, June 28th. The shares were purchased at an average price of $5.48 per share, with a total value of $198,650.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.56% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ARS Investment Partners LLC boosted its position in Chembio Diagnostics by 29.4% in the second quarter. ARS Investment Partners LLC now owns 671,681 shares of the company’s stock worth $4,064,000 after buying an additional 152,686 shares in the last quarter. Wells Fargo & Company MN boosted its position in Chembio Diagnostics by 55.4% in the second quarter. Wells Fargo & Company MN now owns 74,186 shares of the company’s stock worth $449,000 after buying an additional 26,436 shares in the last quarter. Finally, Royce & Associates LP acquired a new position in Chembio Diagnostics during the second quarter worth approximately $132,000. 30.18% of the stock is currently owned by hedge funds and other institutional investors.
Separately, ValuEngine upgraded Chembio Diagnostics from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd.
About Chembio Diagnostics
Chembio Diagnostics, Inc (Chembio), and its subsidiary, Chembio Diagnostic Systems, Inc, develop, manufacture, market and license rapid point-of-care diagnostic tests (POCTs) that detect infectious diseases. The Company’s products available are rapid tests for the detection of human immunodeficiency virus (HIV) 1/2 antibodies, and a multiplex rapid test for the detection of HIV and Syphilis antibodies.
Receive News & Ratings for Chembio Diagnostics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chembio Diagnostics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
