As of Wednesday, Chembio Diagnostics Inc.’s (NASDAQ:CEMI) stock closed at $0.28, up from $0.27 the previous day. While Chembio Diagnostics Inc. has overperformed by 5.56%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CEMI fell by -84.76%, with highs and lows ranging from $2.33 to $0.23, whereas the simple moving average fell by -55.73% in the last 200 days.
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On July 22, 2021, Colliers Securities Downgraded Chembio Diagnostics Inc. (NASDAQ: CEMI) to Neutral. A report published by Craig Hallum on December 03, 2020, Upgraded its rating to ‘Buy’ for CEMI. Colliers Securities also Upgraded CEMI shares as ‘Buy’, setting a target price of $7.50 on the company’s shares in a report dated November 06, 2020. Craig Hallum June 17, 2020d its ‘Buy’ rating to ‘Hold’ for CEMI, as published in its report on June 17, 2020. Canaccord Genuity’s report from June 17, 2020 suggests a price prediction of $7 for CEMI shares, giving the stock a ‘Hold’ rating. Robert W. Baird also rated the stock as ‘Outperform’.
Analysis of Chembio Diagnostics Inc. (CEMI)
Further, the quarter-over-quarter decrease in sales is -7.40%, showing a negative trend in the upcoming months.
One of the most important indicators of Chembio Diagnostics Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -147.90% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.00, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and CEMI is recording 776.02K average volume. On a monthly basis, the volatility of the stock is set at 12.40%, whereas on a weekly basis, it is put at 12.43%, with a gain of 9.49% over the past seven days.
How Do You Analyze Chembio Diagnostics Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.08%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 8.80% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in CEMI shares?
The recent increase in stakes in CEMI appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in CEMI has increased by 41.78% in the first quarter. The company now owns 1,552,357 shares of the stock, with a value of $0.53 million, following the purchase of 457,450 additional shares during the last quarter. During the last quarter, the company dropped down 0 additional shares for a total stake of worth $95238.0, bringing number of shares owned by the company to 280,112.
CEMI shares are owned by institutional investors to the tune of 8.80% at present.