Chembio Diagnostics Inc. [CEMI] fell -25.82% so far this year. What now?

Chembio Diagnostics Inc. [NASDAQ: CEMI] traded at a low on 08/16/22, posting a -2.79 loss after which it closed the day’ session at $0.85. The company report on August 16, 2022 that Chembio Diagnostics Evaluates Monkeypox Rapid Point-of-Care Test Development.


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Chembio Diagnostics, Inc. (Chembio) (Nasdaq: CEMI), a leading point-of-care diagnostics company focused on infectious diseases, today announced it is evaluating the potential to develop a monkeypox rapid point-of-care (POC) test. Chembio is exploring the technical requirements for test development leveraging its multiple technology platforms, DPP, SURE CHECK, and STAT PAK, along with funding partners and the broader market opportunity.

“We are in dialogue with leading health organizations at the federal and state level to evaluate the need for a rapid test to detect and diagnose monkeypox. We are assessing the market needs, timing, regulatory pathway and investment required to develop a test,” said Richard Eberly, Chembio’s President and Chief Executive Officer. “Current tests available for monkeypox are PCR based, and given our history of developing rapid POC tests for infectious disease outbreaks, we believe we may be positioned to leverage our technology to provide a differentiated rapid solution. Based on our findings we will determine if this is a viable future opportunity for Chembio.”.

The results of the trading session contributed to over 10813233 shares changing hands. Over the past one week, the price volatility of Chembio Diagnostics Inc. stands at 8.71% while the volatility over the past one month is 13.36%.

The market cap for CEMI stock reached $25.27 million, with 30.22 million shares outstanding and 29.83 million shares in the current float. Compared to the average trading volume of 835.14K shares, CEMI reached a trading volume of 10813233 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]?

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 0.42. The Price to Book ratio for the last quarter was 1.28, with the Price to Cash per share for the same quarter was set at 0.76.

How has CEMI stock performed recently?

Chembio Diagnostics Inc. [CEMI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.03. With this latest performance, CEMI shares gained by 11.28% in over the last four-week period, additionally sinking by -6.04% over the last 6 months – not to mention a drop of -65.62% 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 51.64, with the RSI for the last a single of trading hit 48.61, and the three-weeks RSI is set at 52.80 for Chembio Diagnostics Inc. [CEMI]. The present Moving Average for the last 50 days of trading for this stock 0.7566, while it was recorded at 0.8630 for the last single week of trading, and 1.0360 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 -50.20 and a Gross Margin at +27.86. Chembio Diagnostics Inc.’s Net Margin is presently recorded at -70.90.

Return on Equity for this stock declined to -109.29, with Return on Assets sitting at -36.90.

Chembio Diagnostics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.90.

Earnings analysis for Chembio Diagnostics Inc. [CEMI]

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 $2 million, or 9.20% of CEMI stock, in the hands of institutional investors. The top three institutional holders of CEMI stocks are: VANGUARD GROUP INC with ownership of 1,104,564, which is approximately 0% of the company’s market cap and around 0.10% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 280,112 shares of the stock with an approximate value of $0.24 million in CEMI stocks shares; and BLACKROCK INC., currently with $0.17 million in CEMI stock with ownership of nearly -26.836% of the company’s market capitalization.

Positions in Chembio Diagnostics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 12 institutional holders increased their position in Chembio Diagnostics Inc. [NASDAQ:CEMI] by around 107,371 shares. Additionally, 15 investors decreased positions by around 347,583 shares, while 13 investors held positions by with 2,153,460 shares. The mentioned changes placed institutional holdings at 2,608,414 shares, according to the latest SEC report filing. CEMI stock had 4 new institutional investments in for a total of 72,746 shares, while 4 institutional investors sold positions of 126,902 shares during the same period.

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