Chembio Diagnostics (NASDAQ:CEMI) Upgraded to Buy by ValuEngine

Chembio Diagnostics (NASDAQ:CEMI) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, April 2nd.

NASDAQ:CEMI opened at $7.85 on Monday. Chembio Diagnostics has a 52-week low of $5.70 and a 52-week high of $9.20. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.08 and a current ratio of 3.51. The firm has a market cap of $113.30, a price-to-earnings ratio of -15.19 and a beta of 1.18.

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Chembio Diagnostics (NASDAQ:CEMI) last posted its quarterly earnings data on Thursday, March 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.06). Chembio Diagnostics had a negative return on equity of 41.95% and a negative net margin of 27.56%. The firm had revenue of $5.99 million for the quarter, compared to analyst estimates of $5.66 million. analysts expect that Chembio Diagnostics will post -0.3 earnings per share for the current year.

In other news, CFO Neil A. Goldman acquired 14,815 shares of Chembio Diagnostics stock in a transaction on Tuesday, February 13th. The shares were purchased at an average price of $6.75 per share, with a total value of $100,001.25. Following the acquisition, the chief financial officer now owns 14,815 shares in the company, valued at $100,001.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.65% of the stock is currently owned by corporate insiders.

A hedge fund recently raised its stake in Chembio Diagnostics stock. Benchmark Capital Advisors grew its stake in Chembio Diagnostics (NASDAQ:CEMI) by 101.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 66,417 shares of the company’s stock after purchasing an additional 33,517 shares during the quarter. Benchmark Capital Advisors owned about 0.54% of Chembio Diagnostics worth $545,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 31.23% of the company’s stock.

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About Chembio Diagnostics

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

To view ValuEngine’s full report, visit ValuEngine’s official website.

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