Sunday, August 9, 2020

The Benchmark Company slashes price target on Chembio Diagnostics Inc. [CEMI] – find out why.

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Chembio Diagnostics Inc. [NASDAQ: CEMI] surged by $0.3 during the normal trading session on Thursday and reaching a high of $5.41 during the day while it closed the day at $5.36. The company report on July 30, 2020 that CLASS ACTION UPDATE for PRA, CEMI and VEL: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders.

Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

PRA Shareholders Click Here: https://www.zlk.com/pslra-1/proassurance-corporation-loss-form?prid=8287&wire=1CEMI Shareholders Click Here: https://www.zlk.com/pslra-1/chembio-diagnostics-inc-loss-submission-form?prid=8287&wire=1VEL Shareholders Click Here: https://www.zlk.com/pslra-1/velocity-financial-inc-loss-submission-form?prid=8287&wire=1.

Chembio Diagnostics Inc. stock has also gained 4.69% of its value over the past 7 days. However, CEMI stock has declined by -57.80% in the 3 months of the year. Over the past six months meanwhile, it has gained 34.00% and gained 17.54% year-on date.

The market cap for CEMI stock reached $109.18 million, with 17.20 million shares outstanding and 13.96 million shares in the current float. Compared to the average trading volume of 4.55M shares, CEMI reached a trading volume of 5407510 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Chembio Diagnostics Inc. [CEMI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CEMI shares is $4.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CEMI stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Benchmark Company have made an estimate for Chembio Diagnostics Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on June 17, 2020. The new note on the price target was released on June 17, 2020, representing the official price target for Chembio Diagnostics Inc. stock. Previously, the target price had yet another raise to $7, while Canaccord Genuity analysts kept a Hold rating on CEMI stock.

The Average True Range (ATR) for Chembio Diagnostics Inc. is set at 0.51, with the Price to Sales ratio for CEMI stock in the period of the last 12 months amounting to 3.31. The Price to Book ratio for the last quarter was 5.10, with the Price to Cash per share for the same quarter was set at 0.55.

CEMI stock trade performance evaluation

Chembio Diagnostics Inc. [CEMI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.69. With this latest performance, CEMI shares gained by 64.92% in over the last four-week period, additionally plugging by 34.00% over the last 6 months – not to mention a drop of -11.40% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CEMI stock in for the last two-week period is set at 50.78, with the RSI for the last a single of trading hit 57.70, and the three-weeks RSI is set at 47.73 for Chembio Diagnostics Inc. [CEMI]. The present Moving Average for the last 50 days of trading for this stock 6.27, while it was recorded at 5.17 for the last single week of trading, and 6.02 for the last 200 days.

Chembio Diagnostics Inc. [CEMI]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Chembio Diagnostics Inc. [CEMI] shares currently have an operating margin of -36.58 and a Gross Margin at +35.02. Chembio Diagnostics Inc.’s Net Margin is presently recorded at -39.68.

Return on Total Capital for CEMI is now -30.26, given the latest momentum, and Return on Invested Capital for the company is -33.22. Return on Equity for this stock declined to -47.68, with Return on Assets sitting at -24.65. When it comes to the capital structure of this company, Chembio Diagnostics Inc. [CEMI] has a Total Debt to Total Equity ratio set at 106.41. Additionally, CEMI Total Debt to Total Capital is recorded at 51.55, with Total Debt to Total Assets ending up at 36.51. Long-Term Debt to Equity for the company is recorded at 103.12, with the Long-Term Debt to Total Capital now at 49.96.

Reflecting on the efficiency of the workforce at the company, Chembio Diagnostics Inc. [CEMI] managed to generate an average of -$42,207 per employee. Receivables Turnover for the company is 6.25 with a Total Asset Turnover recorded at a value of 0.62.Chembio Diagnostics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 3.50.

Earnings per share (EPS) analysis for Chembio Diagnostics Inc. [CEMI] stock

With the latest financial reports released by the company, Chembio Diagnostics Inc. posted -0.19/share EPS, while the average EPS was predicted by analysts to be reported at -0.15/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -26.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CEMI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Chembio Diagnostics Inc. go to 25.00%.

Chembio Diagnostics Inc. [CEMI]: Insider Ownership positions

There are presently around $38 million, or 43.10% of CEMI stock, in the hands of institutional investors. The top three institutional holders of CEMI stocks are: NANTAHALA CAPITAL MANAGEMENT, LLC with ownership of 1,432,032, which is approximately 15.488% of the company’s market cap and around 0.20% of the total institutional ownership; ROYCE & ASSOCIATES LP, holding 1,175,316 shares of the stock with an approximate value of $6.3 million in CEMI stocks shares; and VANGUARD GROUP INC, currently with $3.66 million in CEMI stock with ownership of nearly 0.737% of the company’s market capitalization.

Positions in Chembio Diagnostics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 35 institutional holders increased their position in Chembio Diagnostics Inc. [NASDAQ:CEMI] by around 1,802,824 shares. Additionally, 16 investors decreased positions by around 1,760,005 shares, while 6 investors held positions by with 3,529,480 shares. The mentioned changes placed institutional holdings at 7,092,309 shares, according to the latest SEC report filing. CEMI stock had 21 new institutional investments in for a total of 1,344,540 shares, while 8 institutional investors sold positions of 1,458,207 shares during the same period.

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