ValuEngine downgraded shares of Chembio Diagnostics (NASDAQ:CEMI) from a buy rating to a hold rating in a research note issued to investors on Tuesday, ValuEngine reports.

Separately, Canaccord Genuity reiterated a buy rating and set a $10.00 target price on shares of Chembio Diagnostics in a research report on Thursday, May 2nd.

NASDAQ:CEMI opened at $6.35 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.38 and a current ratio of 3.73. Chembio Diagnostics has a one year low of $4.85 and a one year high of $11.55. The company has a market cap of $108.00 million, a P/E ratio of -11.55 and a beta of 1.84.

Chembio Diagnostics (NASDAQ:CEMI) last posted its earnings results on Wednesday, May 1st. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). Chembio Diagnostics had a negative net margin of 29.51% and a negative return on equity of 36.34%. The business had revenue of $8.30 million for the quarter, compared to the consensus estimate of $8.24 million. On average, analysts expect that Chembio Diagnostics will post -0.54 earnings per share for the current fiscal year.

In related news, insider Javan Esfandiari sold 7,300 shares of Chembio Diagnostics stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $7.41, for a total transaction of $54,093.00. Following the sale, the insider now directly owns 131,473 shares in the company, valued at approximately $974,214.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.65% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of CEMI. Nantahala Capital Management LLC acquired a new stake in Chembio Diagnostics during the 4th quarter worth approximately $4,641,000. Segall Bryant & Hamill LLC bought a new position in Chembio Diagnostics during the 4th quarter worth approximately $1,973,000. Perkins Capital Management Inc. raised its holdings in Chembio Diagnostics by 124.6% during the 1st quarter. Perkins Capital Management Inc. now owns 272,650 shares of the company’s stock worth $1,513,000 after purchasing an additional 151,250 shares during the last quarter. Royce & Associates LP raised its holdings in Chembio Diagnostics by 47.0% during the 4th quarter. Royce & Associates LP now owns 469,153 shares of the company’s stock worth $2,655,000 after purchasing an additional 150,000 shares during the last quarter. Finally, Stonepine Capital Management LLC bought a new position in Chembio Diagnostics during the 4th quarter worth approximately $832,000. Institutional investors and hedge funds own 39.68% of the company’s stock.

Chembio Diagnostics Company Profile

Chembio Diagnostics, Inc, together with its subsidiaries, develops, manufactures, and commercializes point-of-care (POC) diagnostic tests that are used to detect or diagnose diseases. The company offers tests for HIV and Syphilis, and Zika virus. It also develops tests for malaria, dengue virus, chikungunya virus, ebola, lassa, marburg, leptospirosis, Rickettsia typhi, Burkholderia pseudomallei, and Orientia tsutsugamushi.

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