Chembio Diagnostics (NASDAQ:CEMI) Issues Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Chembio Diagnostics (NASDAQ:CEMI) announced its earnings results on Thursday. The company reported ($0.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.05), Fidelity Earnings reports. Chembio Diagnostics had a negative return on equity of 39.62% and a negative net margin of 32.95%. The company had revenue of $9.72 million during the quarter.

Shares of NASDAQ CEMI traded down $0.47 during trading on Friday, reaching $4.54. The company had a trading volume of 153,300 shares, compared to its average volume of 50,394. The stock has a market cap of $94.85 million, a PE ratio of -8.25 and a beta of 1.68. The business’s 50 day moving average price is $5.77 and its 200-day moving average price is $6.15. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.98 and a current ratio of 3.38. Chembio Diagnostics has a 52 week low of $4.39 and a 52 week high of $7.90.

A number of brokerages have weighed in on CEMI. Canaccord Genuity reaffirmed a “buy” rating and issued a $10.00 target price on shares of Chembio Diagnostics in a research note on Monday, July 22nd. ValuEngine downgraded shares of Chembio Diagnostics from a “buy” rating to a “hold” rating in a research note on Monday, November 4th.

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 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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Earnings History for Chembio Diagnostics (NASDAQ:CEMI)

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