Deutsche Bank AG Raises Position in Chembio Diagnostics Inc (NASDAQ:CEMI)

Deutsche Bank AG grew its position in shares of Chembio Diagnostics Inc (NASDAQ:CEMI) by 108.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,935 shares of the company’s stock after buying an additional 43,181 shares during the quarter. Deutsche Bank AG owned approximately 0.48% of Chembio Diagnostics worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Chembio Diagnostics by 8.8% in the fourth quarter. BlackRock Inc. now owns 50,282 shares of the company’s stock worth $285,000 after purchasing an additional 4,083 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Chembio Diagnostics by 47.1% during the fourth quarter. Northern Trust Corp now owns 53,868 shares of the company’s stock valued at $305,000 after acquiring an additional 17,258 shares during the period. Geode Capital Management LLC lifted its stake in shares of Chembio Diagnostics by 51.0% during the fourth quarter. Geode Capital Management LLC now owns 78,318 shares of the company’s stock valued at $443,000 after acquiring an additional 26,459 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Chembio Diagnostics by 101.8% during the third quarter. Renaissance Technologies LLC now owns 43,800 shares of the company’s stock valued at $460,000 after acquiring an additional 22,100 shares during the period. Finally, Wexford Capital LP acquired a new position in shares of Chembio Diagnostics during the fourth quarter valued at $566,000. Hedge funds and other institutional investors own 39.68% of the company’s stock.

In related news, insider Javan Esfandiari sold 7,300 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $7.41, for a total transaction of $54,093.00. Following the completion of the transaction, the insider now directly owns 131,473 shares of the company’s stock, valued at $974,214.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.65% of the company’s stock.

CEMI has been the topic of several analyst reports. ValuEngine lowered Chembio Diagnostics from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Canaccord Genuity restated a “buy” rating and issued a $9.00 price target on shares of Chembio Diagnostics in a report on Monday, March 11th.

Shares of NASDAQ:CEMI traded up $0.03 during mid-day trading on Friday, reaching $6.00. 16,940 shares of the stock were exchanged, compared to its average volume of 56,571. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.38 and a current ratio of 3.73. The company has a market cap of $104.71 million, a PE ratio of -10.91 and a beta of 1.84. Chembio Diagnostics Inc has a one year low of $4.85 and a one year high of $11.55.

Chembio Diagnostics (NASDAQ:CEMI) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). Chembio Diagnostics had a negative return on equity of 36.34% and a negative net margin of 29.51%. The firm had revenue of $8.30 million during the quarter, compared to analysts’ expectations of $8.24 million. On average, research analysts predict that Chembio Diagnostics Inc will post -0.54 earnings per share for the current fiscal year.

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Chembio Diagnostics Profile

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.

Further Reading: Moving Average Convergence Divergence (MACD)

Institutional Ownership by Quarter for Chembio Diagnostics (NASDAQ:CEMI)

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