Chembio Diagnostics Inc. [CEMI] gain 7.79% so far this year. What now?

Chembio Diagnostics Inc. [NASDAQ: CEMI] traded at a high on 11/18/20, posting a 7.79 gain after which it closed the day’ session at $4.91. The company report on November 14, 2020 that Chembio Diagnostics Receives ANVISA Approval for DPP SARS-CoV-2 Antigen Test System in Brazil.

Chembio Diagnostics, Inc. (Nasdaq: CEMI), a leading point-of-care diagnostic company focused on infectious diseases, today announced that its subsidiary Chembio Diagnostics Brazil Ltda. has received regulatory approval from Agência Nacional de Vigilância Sanitária (ANVISA) to market the DPP SARS-CoV-2 Antigen test system in Brazil.

The DPP SARS-CoV-2 Antigen test system is designed to detect SARS-CoV-2 antigens in only 20 minutes. The detection of specific SARS-CoV-2 viral antigens implies a current infection by the virus responsible for COVID-19 cases. The DPP SARS-CoV-2 Antigen test system consists of a DPP SARS-CoV-2 Antigen test cartridge, a DPP Micro Reader 1 or DPP Micro Reader 2 analyzer, and a minimally invasive nasal swab.

The results of the trading session contributed to over 2001236 shares changing hands. Over the past one week, the price volatility of Chembio Diagnostics Inc. stands at 5.40% while the volatility over the past one month is 5.86%.

The market cap for CEMI stock reached $100.32 million, with 20.11 million shares outstanding and 17.37 million shares in the current float. Compared to the average trading volume of 2.14M shares, CEMI reached a trading volume of 2001236 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $6.25 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 2.30. 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.

Colliers Securities have made an estimate for Chembio Diagnostics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 06, 2020. The new note on the price target was released on June 17, 2020, representing the official price target for Chembio Diagnostics Inc. stock.

The Average True Range (ATR) for Chembio Diagnostics Inc. is set at 0.29, with the Price to Sales ratio for CEMI stock in the period of the last 12 months amounting to 3.45. The Price to Book ratio for the last quarter was 2.91, with the Price to Cash per share for the same quarter was set at 1.41.

How has CEMI stock performed recently?

Chembio Diagnostics Inc. [CEMI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.71. With this latest performance, CEMI shares gained by 0.10% in over the last four-week period, additionally sinking by -51.81% over the last 6 months – not to mention a rise of 14.84% 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 56.62, with the RSI for the last a single of trading hit 61.43, and the three-weeks RSI is set at 53.83 for Chembio Diagnostics Inc. [CEMI]. The present Moving Average for the last 50 days of trading for this stock 4.68, while it was recorded at 4.57 for the last single week of trading, and 6.08 for the last 200 days.

Chembio Diagnostics Inc. [CEMI]: Deeper insight into the 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 3.00 and a Current Ratio set at 4.10.

Earnings analysis for Chembio Diagnostics Inc. [CEMI]

With the latest financial reports released by the company, Chembio Diagnostics Inc. posted -0.24/share EPS, while the average EPS was predicted by analysts to be reported at -0.24/share. 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%.

Insider trade positions for Chembio Diagnostics Inc. [CEMI]

There are presently around $31 million, or 42.70% of CEMI stock, in the hands of institutional investors. The top three institutional holders of CEMI stocks are: VANGUARD GROUP INC with ownership of 1,305,568, which is approximately 18.99% of the company’s market cap and around 13.89% of the total institutional ownership; BLACKROCK INC., holding 1,169,484 shares of the stock with an approximate value of $5.75 million in CEMI stocks shares; and SEGALL BRYANT & HAMILL, LLC, currently with $3.09 million in CEMI stock with ownership of nearly 63.567% of the company’s market capitalization.

Positions in Chembio Diagnostics Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 30 institutional holders increased their position in Chembio Diagnostics Inc. [NASDAQ:CEMI] by around 1,279,969 shares. Additionally, 39 investors decreased positions by around 2,098,121 shares, while 14 investors held positions by with 2,997,792 shares. The mentioned changes placed institutional holdings at 6,375,882 shares, according to the latest SEC report filing. CEMI stock had 9 new institutional investments in for a total of 253,903 shares, while 20 institutional investors sold positions of 1,700,949 shares during the same period.

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