Chembio Diagnostics Inc. (NASDAQ:CEMI) closed Monday at $0.45 per share, up from $0.44 a day earlier. While Chembio Diagnostics Inc. has overperformed by 0.86%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CEMI fell by -45.61%, with highs and lows ranging from $1.24 to $0.19, whereas the simple moving average fell by -5.15% 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 -50.00%, showing a negative trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Chembio Diagnostics Inc.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -113.60% 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.
As an indicator of volatility for any stock, average volume can also be very valuable, and CEMI is recording an average volume of 733.70K. On a monthly basis, the volatility of the stock is set at 7.72%, whereas on a weekly basis, it is put at 7.37%, with a gain of 27.43% over the past seven days.
How Do You Analyze Chembio Diagnostics Inc. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. 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 2.39%. 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 decreased by -0.04% in the first quarter. The company now owns 1,551,813 shares of the stock, with a value of $0.7 million, following the sale of -544 additional shares during the last quarter. Geode Capital Management LLC made another decreased to its shares in CEMI during the first quarter, downing its stake by -0.23%. During the last quarter, the company dropped down -656 additional shares for a total stake of worth $0.13 million, bringing number of shares owned by the company to 279,456.
During the first quarter, BlackRock Fund Advisors subtracted a -472 position in CEMI. Renaissance Technologies LLC purchased an additional 22800.0 shares in the last quarter, increasing its holdings by 20.07%, now holding 0.14 million shares worth $61107.0. At the end of the first quarter, The Bank of New York Mellon Corp decreased its CEMI holdings by -0.73% and now holds 0.12 million CEMI shares valued at $55124.0 with the lessened 907.0 shares during the period. CEMI shares are owned by institutional investors to the tune of 8.80% at present.
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