In the last trading session, 1.77 million Chembio Diagnostics Inc. (NASDAQ:CEMI) shares changed hands as the company’s beta touched 1.89. With the company’s per share price at $2.66 changed hands at -$0.04 or -1.48% during last session, the market valuation stood at $76.45M. CEMI’s last price was a discount, traded about -228.95% off its 52-week high of $8.75. The share price had its 52-week low at $2.06, which suggests the last value was 22.56% up since then. When we look at Chembio Diagnostics Inc.’s average trading volume, we note the 10-day average is 2.44 million shares, with the 3-month average coming to 13.08 million.
Analysts gave the Chembio Diagnostics Inc. (CEMI) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.70. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended CEMI as a Hold, 0 felt it is a Buy and 0 rated the stock as Underweight. Chembio Diagnostics Inc.’s EPS for the current quarter is expected to be -$0.22.
Chembio Diagnostics Inc. (NASDAQ:CEMI) trade information
Instantly CEMI was in red as seen at the end of in last trading. With action 1.53%, the performance over the past five days has been green. The drop to weekly highs of 2.93 on Monday, 09/13/21 subtracted -1.48% to the stock’s daily price. The company’s shares are showing year-to-date downside of -44.00%, with the 5-day performance at 1.53% in the green. However, in the 30-day time frame, Chembio Diagnostics Inc. (NASDAQ:CEMI) is 0.00% down. Looking at the short shares, we see there were 2.26 million shares sold at short interest cover period of 5.42 days.
The consensus price target for the stock as assigned by Wall Street analysts is $8.00, meaning bulls need an upside of 66.75% from its current market value. According to analyst projections, CEMI’s forecast low is $8.00 with $8.00 as the target high. To hit the forecast high, the stock’s price needs a -200.75% plunge from its current level, while the stock would need to soar -200.75% for it to hit the projected low.
Chembio Diagnostics Inc. (CEMI) estimates and forecasts
Data shows that the Chembio Diagnostics Inc. share is 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 shot -42.80% over the past 6 months, a 28.13% in annual growth rate that is considerably higher than the industry average of 16.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Chembio Diagnostics Inc. will rise 21.40%, while the growth in revenue is estimated to hit 45.70% for the next quarter. Year-over-year growth is forecast to reach 24.70% 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 $11.5 million. 3 analysts are of the opinion that Chembio Diagnostics Inc.’s revenue for the quarter ending Dec 2021 will be $13.19 million. The company’s revenue for the corresponding quarters a year ago was $10.27 million and $10.23 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 12.00%. The estimates for the next quarter sales put growth at 29.00%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -40.00%. The 2021 estimates are for Chembio Diagnostics Inc. earnings to decrease by -65.80%, but the outlook for the next 5-year period is at 25.00% per year.
Chembio Diagnostics Inc. is expected to release its next quarterly earnings report on May 06.
Chembio Diagnostics Inc. (NASDAQ:CEMI)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 8.39% of Chembio Diagnostics Inc. shares while 36.43% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 39.76%. There are 36.43% institutions holding the Chembio Diagnostics Inc. stock share, with Blackrock Inc. the top institutional holder. As of Mar 30, 2021, the company held 6.24% of the shares, roughly 1.26 million CEMI shares worth $4.44 million.
Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 4.54% or 0.92 million shares worth $3.23 million as of Mar 30, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 0.55 million shares estimated at $1.92 million under it, the former controlled 2.70% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.18% of the shares, roughly 0.44 million shares worth around $1.76 million.