CEMI Stock: More Upside for Chembio Diagnostics, Inc. (NASDAQ:CEMI)? – Marketing Sentinel

CEMI Stock: More Upside for Chembio Diagnostics, Inc. (NASDAQ:CEMI)?

In the latest trading session, 1,716,784 Chembio Diagnostics, Inc. (NASDAQ:CEMI) shares changed hands as the company’s beta touched 1.91. With the company’s most recent per share price at $3.61 changing hands around $0.18 or 0.05% at last look, the market valuation stands at $71.85 Million. CEMI’s current price is a discount, trading about -340.17% off its 52-week high of $15.89. The share price had its 52-week low at $3.01, which suggests the recent value is16.62% up since then. When we look at Chembio Diagnostics, Inc.’s average trading volume, we note the 10-day average is 617.83 Million shares, with the 3-month average coming to 903.62 Million.

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Analysts gave the Chembio Diagnostics, Inc. (CEMI) stock a consensus recommendation rating of Overweight, calculated at a mean rating of 2. If we narrow down to specifics, the data shows that none out of 3 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, 1 recommended CEMI as a Hold, 2 felt it is a Buy and none rated the stock as Underweight. Chembio Diagnostics, Inc.’s EPS for the current quarter is expected to be -$0.32.

Chembio Diagnostics, Inc. (NASDAQ:CEMI) trade information

Instantly CEMI is in green as seen in intraday trades today. With action 5.16%, the performance over the past five days has been red. The jump to weekly highs of $4.00- on Wednesday, Mar 24 added 10.13% to the stock’s daily price. The company’s shares are showing year-to-date downside of -0.24%, with the 5-day performance at -0.08% in the red. However, in the 30-day time frame, Chembio Diagnostics, Inc. (NASDAQ:CEMI) is -0.35% down. Looking at the short shares, we see there were 1.98 Million shares sold at short interest cover period of 0 days.

The consensus price target for the stock as assigned by Wall Street analysts is $9, meaning bulls need an upside of 149.31% from its recent market value. According to analyst projections, CEMI’s forecast low is $8 with $10 as the target high. To hit the forecast high, the stock’s price needs a +177.01% upsurge from its latest level, while the stock would need to tank 121.61% for it to hit the projected low.

Chembio Diagnostics, Inc. (CEMI) estimates and forecasts

Data shows that the Chembio Diagnostics, Inc. share is not performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value dive -26.63% over the past 6 months, a -14.84% in annual growth rate that is considerably lower than the industry average of 15.3%. But despite this, analysts have looked to lower expectations by downgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Chembio Diagnostics, Inc. will drop -10.3%, while the growth in revenue is estimated to hit 28.6% for the next quarter. Year-over-year growth is forecast to reach 13.2% up from the last financial year.

Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $8.19 Million. 3 analysts are of the opinion that Chembio Diagnostics, Inc.’s revenue for the quarter ending June 01, 2021 will be $8.88 Million. The company’s revenue for the corresponding quarters a year ago was $6.86 Million and $5.11 Million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 19.4%. The estimates for the next quarter sales put growth at 73.7%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -40%. The 2021 estimates are for Chembio Diagnostics, Inc. earnings to decrease by -65.8%, but the outlook for the next 5-year period is at 25% per year.

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Chembio Diagnostics, Inc. (NASDAQ:CEMI)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 13.89% of Chembio Diagnostics, Inc. shares while 33.75% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 39.19%. There are 91 institutions holding the Chembio Diagnostics, Inc. stock share, with Blackrock Inc. the top institutional holder. As of Dec 30, 2020, the company held 5.94% of the shares, roughly 1.2 Million CEMI shares worth $5.7 Million.

Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 5.14% or 1.04 Million shares worth $4.93 Million as of Dec 30, 2020.

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Among Mutual Funds, the top two as of Dec 30, 2020 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 547682 shares estimated at $2.6 Million under it, the former controlled 2.71% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.24% of the shares, roughly 451.37 Thousand shares worth around $2.51 Million.

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