Royce & Associates LP grew its position in shares of Chembio Diagnostics Inc (NASDAQ:CEMI) by 39.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 299,353 shares of the company’s stock after purchasing an additional 84,000 shares during the quarter. Royce & Associates LP’s holdings in Chembio Diagnostics were worth $3,323,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of CEMI. WealthTrust Fairport LLC purchased a new position in shares of Chembio Diagnostics during the 1st quarter valued at approximately $119,000. Spark Investment Management LLC purchased a new position in shares of Chembio Diagnostics during the 2nd quarter valued at approximately $218,000. Benchmark Capital Advisors increased its holdings in shares of Chembio Diagnostics by 13.1% during the 1st quarter. Benchmark Capital Advisors now owns 75,092 shares of the company’s stock valued at $601,000 after purchasing an additional 8,675 shares in the last quarter. EAM Investors LLC purchased a new position in shares of Chembio Diagnostics during the 2nd quarter valued at approximately $814,000. Finally, Gagnon Advisors LLC purchased a new position in shares of Chembio Diagnostics during the 1st quarter valued at approximately $1,037,000. 44.96% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the stock. Benchmark assumed coverage on shares of Chembio Diagnostics in a report on Wednesday, July 11th. They set a “buy” rating and a $14.00 target price for the company. ValuEngine lowered shares of Chembio Diagnostics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 4th.
NASDAQ:CEMI opened at $10.30 on Wednesday. Chembio Diagnostics Inc has a 1-year low of $5.75 and a 1-year high of $11.55. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.58 and a current ratio of 3.53.
Chembio Diagnostics (NASDAQ:CEMI) last released its quarterly earnings results on Wednesday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05). Chembio Diagnostics had a negative net margin of 16.54% and a negative return on equity of 26.91%. The company had revenue of $8.72 million during the quarter, compared to analyst estimates of $6.94 million. equities analysts forecast that Chembio Diagnostics Inc will post -0.44 EPS for the current fiscal year.
About Chembio Diagnostics
Chembio Diagnostics, Inc, together with its subsidiaries, develops, manufactures, and commercializes point-of-care (POC) diagnostic tests that are used to detect or monitor diseases. It offers tests for HIV and Syphilis, and Zika virus. The company also develops tests for malaria, Dengue virus, chikungunya virus, Ebola, Lassa, Marburg, leptospirosis, Rickettsia typhi, Burkholderia pseudomallei, and Orientia tsutsugamushi.
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