Colliers Securities slashes price target on Chembio Diagnostics Inc. [CEMI] – find out why.

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Chembio Diagnostics Inc. [NASDAQ: CEMI] gained 1.07% on the last trading session, reaching $1.89 price per share at the time. The company report on November 22, 2021 that Chembio Diagnostic Systems Prevails in International Arbitration Against BioSure (UK) Ltd.

Chembio Diagnostic Systems Inc. (“Chembio”), a subsidiary of Chembio Diagnostics, Inc. (Nasdaq: CEMI), received an international arbitration award Thursday, November 18, 2021 against BioSure (UK) Ltd, Chembio’s former UK distributor of HIV self-tests.


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In April 2014, Chembio and BioSure entered into a distribution agreement under which BioSure was licensed the right to sell bundled products in the UK containing Chembio’s SURE CHECK HIV ½ pouched tests. The distribution agreement terminated on April 1, 2019. On September 16, 2019, Chembio initiated arbitration in New York, USA alleging BioSure breached the distribution agreement, misappropriated Chembio’s trade secrets, and engaged in other unlawful conduct. A final merits hearing was held in April 2021.

Chembio Diagnostics Inc. represents 26.70 million in outstanding shares, while the company has a total market value of $55.09 million with the latest information. CEMI stock price has been found in the range of $1.78 to $1.91.

If compared to the average trading volume of 2.33M shares, CEMI reached a trading volume of 801282 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $8.00 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 2.70. 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 Neutral, with their previous recommendation back on July 22, 2021. While these analysts kept the previous recommendation, Craig Hallum dropped their target price from $5 to $10. The new note on the price target was released on December 03, 2020, representing the official price target for Chembio Diagnostics Inc. stock. Previously, the target price had yet another raise to $7.50, while Colliers Securities analysts kept a Buy rating on CEMI stock.

The Average True Range (ATR) for Chembio Diagnostics Inc. is set at 0.11, with the Price to Sales ratio for CEMI stock in the period of the last 12 months amounting to 1.47. The Price to Book ratio for the last quarter was 1.06, with the Price to Cash per share for the same quarter was set at 1.23.

Trading performance analysis for CEMI stock

Chembio Diagnostics Inc. [CEMI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.44. With this latest performance, CEMI shares dropped by -17.47% in over the last four-week period, additionally sinking by -40.94% over the last 6 months – not to mention a drop of -64.20% 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 32.07, with the RSI for the last a single of trading hit 30.20, and the three-weeks RSI is set at 34.83 for Chembio Diagnostics Inc. [CEMI]. The present Moving Average for the last 50 days of trading for this stock 2.3295, while it was recorded at 1.9240 for the last single week of trading, and 3.2650 for the last 200 days.

Chembio Diagnostics Inc. [CEMI]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Chembio Diagnostics Inc. [CEMI] shares currently have an operating margin of -67.60 and a Gross Margin at +26.47. Chembio Diagnostics Inc.’s Net Margin is presently recorded at -78.60.

Return on Total Capital for CEMI is now -42.71, given the latest momentum, and Return on Invested Capital for the company is -50.39. Return on Equity for this stock declined to -98.52, with Return on Assets sitting at -33.00. When it comes to the capital structure of this company, Chembio Diagnostics Inc. [CEMI] has a Total Debt to Total Equity ratio set at 91.43. Additionally, CEMI Total Debt to Total Capital is recorded at 47.76, with Total Debt to Total Assets ending up at 30.02. Long-Term Debt to Equity for the company is recorded at 88.90, with the Long-Term Debt to Total Capital now at 46.44.

Reflecting on the efficiency of the workforce at the company, Chembio Diagnostics Inc. [CEMI] managed to generate an average of -$71,891 per employee. Receivables Turnover for the company is 9.23 with a Total Asset Turnover recorded at a value of 0.42.Chembio Diagnostics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.80 and a Current Ratio set at 5.30.

Chembio Diagnostics Inc. [CEMI]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Chembio Diagnostics Inc. posted -0.28/share EPS, while the average EPS was predicted by analysts to be reported at -0.26/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -7.70%. 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%.

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An analysis of insider ownership at Chembio Diagnostics Inc. [CEMI]

There are presently around $8 million, or 13.70% of CEMI stock, in the hands of institutional investors. The top three institutional holders of CEMI stocks are: VANGUARD GROUP INC with ownership of 897,694, which is approximately 4.963% of the company’s market cap and around 5.94% of the total institutional ownership; ROYCE & ASSOCIATES LP, holding 491,453 shares of the stock with an approximate value of $0.93 million in CEMI stocks shares; and PENBROOK MANAGEMENT LLC, currently with $0.67 million in CEMI stock with ownership of nearly -0.169% 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 25 institutional holders increased their position in Chembio Diagnostics Inc. [NASDAQ:CEMI] by around 823,934 shares. Additionally, 35 investors decreased positions by around 1,699,799 shares, while 8 investors held positions by with 1,449,268 shares. The mentioned changes placed institutional holdings at 3,973,001 shares, according to the latest SEC report filing. CEMI stock had 8 new institutional investments in for a total of 321,079 shares, while 21 institutional investors sold positions of 918,145 shares during the same period.

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