Chembio Diagnostics, Inc. (NASDAQ:CEMI) is in the list of top stocks to trade today as the company shares are trading 7.11% or 0.43 points up from last closing price of $6.05, reaching $6.48 at last check. The CEMI share price has risen in 5 of the last 5 days and is down -2.73% over the past week. It will be exciting to see whether the stock manages to continue increasing or take a minor break for the next few days. The move came on solid volume too with far more shares changing hands than in a normal session. Trading activity as of this writing strengthened by 102,538 shares, and in total 132338 shares valued at $857550 were seen changing hands compared with 29800 shares valued at $180290 recorded at the previous session. You should take into consideration that a greater volume on higher prices causes bullish signal for the market. It shows the sentiment is in an uptrend and more and more traders want to enter in the CEMI stock.
Chembio Diagnostics, Inc. (CEMI) shares have notched a 3-month decline of about -2.73%, but has still advanced 6.89% year to date. By comparison, the stock sank -40.69% over the past 12 months, while it jumped 0.83% over the 1 month. The company’s market cap is around $103.64M, with its short interest ratio standing at 3.69%.
In the current trading session for CEMI, the stock witnessed two major price actions, it rose to a high of $6.9 and was down as much as $6.08 at one point. The high recorded is very low when compared to their 52-week high which is $4.39. The 52-week high is now at -39.76 distance from current price. Their recent low of $10.79 represents a 48.06% recovery. This data is quite important for investors who look to benefit from the recent rise of the company’s stock. The price target currently for CEMI is $11.25, this is above the recent high that the stock attained. Taking a look at the overall sentimental views of financial analysts, the trading pattern of this stock recently is very clear.
The stock of Chembio Diagnostics, Inc. earned $-0.71 per share in the trailing 12 months and has a P/E ratio of -9.13. You can compare it with that of similar companies in its industry to get a sense of whether the stock you’re looking to purchase is overvalued or undervalued. Its current price to earnings ratio is lower than the ones recorded by the industry which is 38 and lower compared to the sector’s average of 30.52. When the P/E ratio is low let’s say below 1.0, then the stock price is considered a good value. CEMI also has P/S multiple of 3.18. This is greater versus the 12 month P/S ratios of other companies in the same indutry. The peer average price to sales ratio is 0.79x.
The company recorded an interesting insider sale transaction by the Insider on May 24, 2019. A Securities and Exchanges Commission filings show that Javan Esfandiari sold a total of 30,000 CEMI shares that day for a sum of around $214,500. The filings show that the insider now retains 131,473 shares, currently worth $851,945. Chembio Diagnostics, Inc. (CEMI) insiders have acquired 375,000 shares in the stock within the past three months. The total insider sales reported to the SEC in that time frame amounted to shares. In total, individual insiders traded 375,000 shares in the business, which makes up 53.287% of 703,732 shares that were traded over a year. In the past 12 months, insiders have purchased 650,932 shares while the seller parted with 52,800 shares.
CEMI‘s last price was up 2.99% as compared to the average trading price of 50 days recorded at $6.29 while enlarging the period to 200 trading days, the average closing price was $5.7. At present, there are 17.13 million in the total number of common shares owned by the public and among those 15.12 million shares have been available to trade. The percentage of shares being held by the company management was 3.8% while institutions stake was 45.2%. The company has generated negative returns on equity over the last 12 months (-41%). It managed to keep its gross profit margin at 34.7% over the past 12 months.
When assessing the full upside of the CEMI stock, there is another set of technicals that should be looked into and considered. Its 20.43% gain from moving average of $5.38 has brought about a positive sentiment when calculated over the last 20 days. The market has allocated a beta of 1.7 to the stock. With the beta been greater than one, this implies that the company shares are theoretically more volatile than the market, something that the traders definitely are keeping an eye on.
Most of the analysts surveyed by Thomson/First Call think quite highly of Chembio Diagnostics, Inc. — 3 analysts rate the stock as a buy with another 0 rating it strong buy. There are 0 analysts who maintain a hold rating for the stock, with 0 giving it a sell rating. Analysts arrived at a 12-month price target of $9.5 on shares of Chembio Diagnostics, Inc. (NASDAQ:CEMI), which corresponds to 46.83% upside potential than its current market price of $6.48 and implies potential despite the recent advance in the price. However, their current target price has fallen from $9.5 a month ago and is down handily from the consensus target of $12 a quarter ago.
In the last five years, the EPS of the company has been roughly -63.8%. Though the percentage looks disappointing, extra tailwinds are emerging as looking out over a next 5-year period, with analysts estimating that their earnings will increase annually by 25%. The revenue of the company has risen at an average annualized rate of about 2.5 over the last five years. The company recently recorded an increase of 10.3%, but this figure is rather attractive.
Let’s briefly check the hedge fund interest towards CEMI stock. River & Mercantile Asset Management LLP changed position in the company and now owns 154,407 shares worth $1,000,557, SEC documents show. Morgan Stanley shored up assets in the stock as 36222.32 shares have been purchased, increasing its stake by 17.4% to 42,525 shares which are currently valued at $275,562. In addition, BlackRock Inc. recently reported that it now owns 190,838 shares making a total of $1,236,630 based on the recent price. This refelects a change of 288.7% in their ownership.