Chembio Diagnostics Inc. (NASDAQ: CEMI) stock jumped 15.37% on Friday to $0.73 against a previous-day closing price of $0.63. With 1.18 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.16 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $0.7497 whereas the lowest price it dropped to was $0.6385. The 52-week range on CEMI shows that it touched its highest point at $3.78 and its lowest point at $0.42 during that stretch. Beta for the stock currently stands at 1.66.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CEMI was up-trending over the past week, with a rise of 10.31%, but this was up by 14.87% over a month. Three-month performance surged to 27.52% while six-month performance fell -21.25%. The stock lost -75.18% in the past year, while it has lost -35.98% so far this year. A look at the trailing 12-month EPS for CEMI yields -1.44 with Next year EPS estimates of -1.27. For the next quarter, that number is -0.19. This implies an EPS growth rate of -4.30% for this year and -41.10% for next year. EPS is expected to grow by 25.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -2.10%.
Float and Shares Shorts:
At present, 30.09 million CEMI shares are outstanding with a float of 29.83 million shares on hand for trading. On Jul 14, 2022, short shares totaled 1.49 million, which was 4.95% higher than short shares on Jun 14, 2022. In addition to Mr. Richard L. Eberly as the firm’s Pres, CEO & Director, Mr. Javan Esfandiari serves as its Exec. VP and Chief Scientific & Technology Officer.
Through their ownership of 9.34% of CEMI’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 5.12% of CEMI, in contrast to 4.03% held by mutual funds. Shares owned by individuals account for 11.01%. As the largest shareholder in CEMI with 3.62% of the stake, The Vanguard Group, Inc. holds 1,094,907 shares worth 1,094,907. A second-largest stockholder of CEMI, BlackRock Fund Advisors, holds 276,658 shares, controlling over 0.92% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in CEMI, holding 274,418 shares or 0.91% stake. With a 2.31% stake in CEMI, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 697,965 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.19% of CEMI stock, is the second-largest Mutual Fund holder. It holds 359,348 shares valued at 0.23 million. Fidelity Extended Market Index Fu holds 0.53% of the stake in CEMI, owning 160,580 shares worth 0.1 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CEMI since 1 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CEMI analysts setting a high price target of $8.00 and a low target of $8.00, the average target price over the next 12 months is $8.00. Based on these targets, CEMI could surge 995.89% to reach the target high and rise by 995.89% to reach the target low. Reaching the average price target will result in a growth of 995.89% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CEMI will report FY 2022 earnings on 03/09/2023. Analysts have provided yearly estimates in a range of -$0.90 being high and -$0.90 being low. For CEMI, this leads to a yearly average estimate of -$0.90. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Chembio Diagnostics Inc. surprised analysts by -$0.08 when it reported -$0.29 EPS against a consensus estimate of -$0.21. The surprise factor in the prior quarter was -$0.27. Based on analyst estimates, the high estimate for the next quarter is -$0.19 and the low estimate is -$0.19. The average estimate for the next quarter is thus -$0.19.
Summary of Insider Activity:
Insiders traded CEMI stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has remained unchanged to 0 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 0 while 0 shares were sold.