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Tag: CEMI stock

  • Chembio Diagnostics, Inc. (CEMI) Stock Plummeted in Pre-Market as it Missed the EPS Estimates.

    Chembio Diagnostics, Inc. (CEMI) is a novel and leading global diagnostics biotechnology company engaged in the development and commercialization of testing facilities for the detection and diagnosis of different diseases. These diseases include STD, insect vector, and tropical disorders, along with COVID-19, enabling accelerated therapeutics. The company’s innovative DPP technology offers market applications for infectious diseases.

    The price of CEMI stock during regular trading on March 3, 2022, was $0.92 with a decline of 3.37%. In the pre-market, its price was last checked to be plunged further by 11.9%.

    CEMI: Key Financials

    On March 3, 2022, CEMI released its unaudited fourth-quarter financials for the period ended December 31, 2021. Some of the fundamental highlights are discussed below.

    Revenue

    Total revenue of the fourth quarter in 2021 was $20.5 million against $10.2 million in the same quarter of 2020. The total revenue of the company gained momentum over the year by $10.3 million along with beating the analysts’ expectations by $7.02 million

    EPS

    Net loss basic and diluted per share in the fourth quarter of 2021 was $13.9 million or $0.47 as compared to $7.13 million or $0.35 in the corresponding quarter of 2020. The company observed a significant reduction in its EPS over the year along with missing the EPS estimates by -$0.27.

    CEMI: Events and Happenings

    On January 06, 2022, CEMI updated on awarding the grant of nonqualified stock option and an RSU to its new CFO following Nasdaq Listing Rules outside of any stock equity plan. The awards were granted concerning the terms of his employment contract with the company. On January 05, 2022, CEMI reported on appointing Larry Steenvoorden as the company’s new Chief Financial Officer with immediate effect.

    On December 06, 2021, CEMI announced the submission of a De Novo/510(k) Application to the FDA for the DPP SARS-CoV-2 Antigen test platform.

    Conclusion

    CEMI stock down-performed by 78% in 2021 as the peak time of the pandemic hit the global economy adversely. The company observed a declining trend in Thursday’s aftermarket trading as it released its financial statement and missed the EPS estimates. For the first fiscal quarter of 2022, the company expects revenue in the range of $12.2 million with an EPS of -$0.23.

  • Chembio Diagnostics, Inc. (CEMI) stock Dives Further Deep After Hours. Why?

    Chembio Diagnostics, Inc. (CEMI) stock Dives Further Deep After Hours. Why?

    Chembio Diagnostics, Inc. (CEMI) stock declined during the regular session on Tuesday, which continued sharply in the after-hours. While it lost 6.59% during regular trading, CEMI nose dived by 21.79% in the after-hours. No news from the company is responsible for the bearish momentum of the stock.

    During the regular session, CEMI traded between $1.55 and %1.70, closing the session at $1.56. The stock tumbled further down in the after-hours to reach $1.22 at 806.46K shares.

    Currently, the 30.05 million outstanding shares of the company trade at a market capitalization of $50.18 million.

    CEMI’s FDA De Novo/510(k) Request

    On December 06, CEI announced to have submitted De Novo/510(k) Request for the DPP SARS-CoV-2 Antigen test system to the FDA. Read with the DPP Micro Reader or DPP Micro Reader 2 optical analyzer, the test system can detect SARS-CoV-2 antigens within 20 minutes. Furthermore, it can also detect up to eight test results from a single patient sample.

    Moreover, the company was awarded to support the development of the COVID-19 point-of-care antigen test system using its proprietary DPP technology by BARDA. Biomedical Advanced Research and Development Authority (BARDA) is a part of the U.S. Department of Health and Human Services’ Office of the Assistant Secretary for Preparedness and Response. In addition to the funding for the clinical studies, BARDA’s support also included preparation of De Novo/510(k) submission.

    The company’s CEO and President, Richard Eberly shared his hopefulness for a straightforward review process with the FDA.

    SHAPRA Approval

    Previously, CEI had announced receiving SHAPRA approval for the DPP SARS-CoV-2 Antigen Test, on November 29. The South Africa Health Products Regulatory Authority (SHAPRA) approved the marketing and distribution of the test to professional healthcare providers.

    Richard Eberly remarked on the approval to be another proof of the strong sensitivity and specificity performance of the test system. Moreover, CEMI will now be providing an additional testing solution to its distributor, Patient Focus Africa (PFA), to its SARA-CoV-2 IgM/IgG Antibody test. Furthermore, the DPP SARS-CoV-2 Antigen test and the IgM/IgG Antibody test, both are authorized by the company’s distributor pursuant to SHAPRA’s license.

    Patient Focus Africa is accredited by the World Health Organization for near-patient testing, wellness, and professional point of care testing. Moreover, PFA is also owned partially by Discovery Health. Which is the largest private healthcare insurance provider in South Africa.

  • Is there any news of rising Chembio Diagnostics, Inc. (CEMI) stock today?

    Shares of the Chembio Diagnostics, Inc. (CEMI) stock were rising in the pre-market trading session today on July 26, 2021. The CEMI stock price saw an uptrend of 1.31 % to reach $3.10 a share at the time of this writing. The stock went down at the previous closing by 29%. Let’s deep dive to explore more of it.

    What’s Happening?

    CEMI is the developer and manufacturer of point-of-care (POC) diagnostic tests that help in the diagnosis of diseases. There is no news related to CEMI stock today to justify the bullish sentiment. It seems that the CEMI stock is rising without any obvious reason. However, it has been noticed that the stock became red at some points in the pre-market session today.

    CEMI stock’s Upcoming Financial Results:

    Chembio Diagnostics, Inc on July 23, 2021, announced the release date of its second-quarter 2021 financial results which is August 5, 2021. CEMI stock will announce financial results after the closing of trading on the above-mentioned date.

    CEMI stock’s first-quarter financial results:

    In the first quarter 2021 financial results, the CEMI stock generated $8.7 million revenue which was 27% higher than the same period of the prior year.Net products sales were declined 30% to drop at $4.0 million and the gross product margin was $0.5 million in the first quarter of 2021.

    The CEMI stock spent 46% higher research and development expenses in the first quarter of 2021 as compared to the same tenure of the previous year. Selling general and administrative expenses were increased by 46% or $1.9 million in the first three months of 2021.

    Net loss for the Chembio stock was $4.5 million as compared to $5.0 million in the prior-year period. As of March 31, 2021, cash and cash equivalents were totaled $14.4 million.

    COVID Diagnostic Test Order:

    On July 20, 2021, Chembio Diagnostics received a purchase order worth $28.3 million from Bio-Manguinhos. The order was related to Chembio’s DPP SARS-CoV-2 Antigen tests that use the nasal swab for detecting COVID-19 pathogen in only 20 minutes. As a result of this order, the shares of Chembio were doubled at that time.

    Conclusion:

    The CEMI stock was green in the pre-market trading session despite no specific news related to it on today’s date. The revenue of the first quarter was higher as compared to previous year same period. The upcoming financial results in august will further explain the position of this stock.

  • How Is Chembio (CEMI) Stock Skyrocketing 95% in Premarket Session?

    How Is Chembio (CEMI) Stock Skyrocketing 95% in Premarket Session?

    Shares of leading point-of-care diagnostic company focused on infectious diseases Chembio Diagnostics Inc. (CEMI) were trading up 94.66% at $4.01 in premarket trading on Wednesday. Chembio stock decreased -16.26% to end last trading session at $2.06. CEMI stock traded 1.39 million shares on the day, above its average daily trading volume of 0.48 million shares for the previous 50 days.

    In the last five days, CEMI stock share prices have retreated by -20.77; however, over the last month, they have fallen by -32.01%. Over the last three months, CEMI stock price plummeted by 43.25%, and so far this year, it has lost -56.63 percent. After receiving a multimillion-dollar order, CEMI stock has gained traction.

    Who placed the order with CEMI?

    Chembio is one of North America’s leading point-of-care diagnostics companies that specializes in detecting and diagnosing infectious diseases including COVID-19, respiratory disease, and insect-bite diseases. With CEMI’s vast scientific expertise, its novel DPP technology has a wide range of application beyond infectious diseases. Healthcare organizations, physician offices, clinical labs, government agencies, and consumers receive CEMI’s products directly and through distributors globally.

    Yesterday, Chembio announced that it had received a 28.3 million dollar purchase order from Bio-Manguinhos.

    • Chembio’s DPP SARS-CoV-2 Antigen tests for delivery during 2021 were ordered by Bio-Manguinhos to support an urgent need of the Brazilian Ministry of Health to fight the COVID-19 pandemic.
    • The DPP SARS-CoV-2 Antigen test, which uses a nasal swab to detect the antigen, uses a minimally invasive technique to detect COVID-19 infection in only 20 minutes.
    • Chembio’s supply chain, staffing, liquidity, and other matters outside Chembio’s control may prevent CEMI from delivering all the tests on the purchase order.
    • A small drop of blood from the fingertip or alternative samples allows CEMI to provide high-quality, rapid testing results in 15 to 20 minutes.
    • A single patient sample can produce up to eight test results using CEMI’s DPP platform, providing more clinical value than other rapid tests.
    • With CEMI’s highly portable, battery-powered DPP Micro Reader, users can easily and accurately perform certain types of decentralized testing where real-time results can be obtained while patients are still on the spot.
    • Objectivity produces results that reduce the potential for human error that can occur in many rapid tests requiring visual interpretations.

    A worthwhile investment by CEMI:

    Chembio (CEMI) significant expansion of customer relations with Bio-Manguinhos has been encouraging as it addresses COVID-19 testing needs. As a result of this purchase order, CEMI is set to ramp up its production of the DPP SARS-CoV-2 Antigen test, justifying the investments it made earlier in the year.

  • Pre-Market Cues: 45 Stocks Roaring for Change On November 16th

    Pre-Market Cues: 45 Stocks Roaring for Change On November 16th

    CBAK Energy Technology Inc. (CBAT) stock soared 51.22% to $9.3 in pre-market trading.
    Asia Pacific Wire & Cable Corporation Limited (NASDAQ: APWC) shares are trading up 9.74% at $2.14 at the time of writing. The company’s 52-week range was noted as $0.89 to $2.69.
    Electra Meccanica Vehicles Corp. (SOLO) grew over 8.9% at $6.85 in pre-market trading today following analyst’s prediction that electric vehicles will overtake the global automotive sector in the near future.
    CPS Technologies Corporation (CPSH), an Electronic Components company, dropped about -8.72% at $1.57 in pre-market trading Monday.
    HighPoint Resources Corporation (HPR) stock moved up 77.39 percent to $6.67 in the pre-market trading after the news that Bonanza Creek Energy, Inc. BCEI and HighPoint Resources Corporation HPR have agreed on a merger worth $376 million.
    Navidea Biopharmaceuticals Inc. (NAVB) lost over -5.8% at $2.6 in pre-market trading Monday 16 November 2020 after the company announced its financial results for the third quarter and year-to-date 2020.
    Hall of Fame Resort & Entertainment Company (HOFV) is down more than -11.65% at $2.2 in pre-market hours Monday 16 November 2020 as the company and the NFL alumni association offered updates on the success of the inaugural NFL alumni academy. The stock had jumped over 22.06% to $2.49 in the last trading session.
    Before the trading started on 16 November 2020, GreenPower Motor Company Inc. (GP) is up 6.98% to reach $13.48 after the company posted its 2nd quarter financial results for 2021. It has been trading in a 52-week range of $0.82 to $23.45.
    Zomedica Pharmaceuticals Corp. (ZOM) stock plunged -7.07% to $0.088 in the pre-market trading as the plans to initiate commercialization on 30 March 2021 of its TRUFORMATM point-of-care diagnostic platform revealed.
    Polar Power Inc. (NASDAQ: POLA) shares are trading up 7.81% at $3.59 at the time of writing. Company’s 52-week range was noted as $0.95 to $6.56.
    Sino-Global Shipping America Ltd. (SINO) tumbled over -2.92% at $2.66 in pre-market trading today.
    Pinduoduo Inc. (PDD), an Internet Retail company, dropped about -1.78% at $148.59 in pre-market trading Monday as the firm unveils its Q3 results.
    Tellurian Inc. (TELL) stock moved down -4.51 percent to $0.9644 in the pre-market trading as the news appeared that the company is pondering new Asia gas deals After Petronet snub.
    9 Meters Biopharma Inc. (NMTR) lost over -3.58% at $0.8 in pre-market trading Monday 16 November 2020 as the company revealed financial results and business updates.
    Centennial Resource Development Inc. (CDEV) is down more than -2.88% at $0.741 in pre-market hours Monday 16 November 2020 after the company said Sean R. Smith, Chief Executive Officer, is set to attend the Bank of America Securities Global Energy Conference to be held virtually on Thursday. The stock had jumped over 9.14% to $0.76 in the last trading session.
    Before the trading started on 16 November 2020, Genius Brands International Inc. (GNUS) is up 7.38% to reach $1.31, after the company stated that it is set to host a conference call at 10:00 a.m. Eastern Time on Monday, November 16, 2020, to review major initiatives underway and recent developments. The stock has been trading in a 52-week range of $0.05 to $11.73.
    CureVac N.V. (CVAC) stock soared 8.38% to $81.5 in the pre-market trading after the report that the covid-19 vaccine could be a drug industry game-changer. The most recent rating by Jefferies, on September 08, 2020, is a Hold.
    Apple Hospitality REIT Inc. (NYSE: APLE) shares are trading down -2.83% at $12.02 at the time of writing after the company posted 3rd quarter results of operation. The company’s 52-week range was noted as $4.48 to $16.42. Analysts have a consensus price target of $13.
    Transocean Ltd. (RIG) tumbled over -3.7% at $1.04 in pre-market trading today as the company stock soared 53% since the earnings announcement.
    Cinedigm Corp. (CIDM), an Entertainment company, rose about 8.33% at $0.65 in pre-market trading Monday as the company has purchased North American distribution rights to 100 DAYS TO LIVE, a taut psychological thriller set in the world of suicide prevention and mental health.
    Range Resources Corporation (RRC) stock moved down -5.57 percent to $6.78 in pre-market trading as the company recently revealed disappointing earnings.
    UP Fintech Holding Limited (TIGR) gained over 11.9% at $6.02 in pre-market trading Monday 16 November 2020 as the capital market giant revealed that it will announce its Q3 results on November 23, 2020.
    Taubman Centers Inc. (TCO) is up more than 8.11% at $42.68 in pre-market hours Monday 16 November 2020 after the publication report that Simon Property and Taubman have finally agreed on a merger on a well-reduced price of $43.00 per share in cash. The stock had jumped over 5.53% to $39.48 in the last trading session.
    Before the trading started on 16 November 2020, Banco Bilbao Vizcaya Argentaria S.A. (BBVA) is up 15.24% to reach $4.31 after the announcement that PNC Financial Services Group Inc (NYSE: PNC) is set to take over Banco Bilbao Vizcaya Argentaria (BBVA) U.S. business in an $11 billion all-cash deal. The stock has been trading in a 52-week range of $2.49 to $5.80.
    Kandi Technologies Group Inc. (KNDI) stock soared 7.62% to $7.77 in the pre-market trading as the Company announced that It completed a registered direct offering of 9,404,392 shares of its securities at a sales price of $6.38 per share, raising about $60,000,000 in net gross proceeds to the Firm before deducting the selling agent’s fees and other expected offering expenditures incurred by the Company.
    Textainer Group Holdings Limited (NYSE: TGH) shares are trading down -5.5% at $15.65 at the time of writing after the company posted its third-quarter results. The company’s 52-week range was noted as $5.50 to $17.33. Analysts have a consensus price target of $18.
    Gulfport Energy Corporation (GPOR) tumbled over -45.61% at $0.13 in pre-market trading today after the company filed for bankruptcy.
    Akerman Corp. (KERN), a Health Information Services company, dropped about -3.46% at $2.79 in pre-market trading Monday after the company posted its earnings results.
    United States Antimony Corporation (UAMY) stock moved up 4.17 percent to $0.375 in the pre-market trading.
    ADiTx Therapeutics Inc. (ADTX) lost over -2.03% at $1.93 in pre-market trading Monday 16 November 2020 as the company offered the latest business updated as well as its fiscal quarterly report.
    Arbutus Biopharma Corporation (ABUS) is up more than 10.19% at $4.0 in pre-market hours Monday 16 November 2020 after the firm revealed presentation of phase 1a/1b clinical trial results for AB-729 in chronic hepatitis B subjects at the liver meeting digital experience, the American Association for the study of Liver Diseases meeting. The stock had jumped over 2.25% to $3.63 in the last trading session.
    Before the trading started on 16 November 2020, Ideanomics Inc. (IDEX) is up 31.31% to reach $1.3 after the company revealed the final agreement to take over Timios holding corps. It has been trading in a 52-week range of $0.28 to $3.98.
    Pacific Ethanol Inc. (PEIX) stock soared 4.71% to $6.0 in the pre-market trading as the company announced Q3 results. The most recent rating by BWS Financial, on September 22, 2020, is a Buy.
    CEL-SCI Corporation (AMEX: CVM) shares are trading up 10.5% at $14.0 at the time of writing. The company’s 52-week range was noted as $6.35 to $18.00. Analysts have a consensus price target of $18.
    AMC Entertainment Holdings Inc. (AMC) grew over 8.42% at $3.22 in pre-market trading today following news that Cinemark joins AMC in pursuing a shortened movie window.
    Sogou Inc. (SOGO), an Internet Content & Information company, dropped about -3.14% at $8.64 in pre-market trading Monday as the company unveiled its Q3, 2020 results.
    ObsEva SA (OBSV) stock moved up 18.84 percent to $2.46 in the pre-market trading as the company announced the positive topline results of PROLONG, the Phase 2a proof-of-concept, randomized, double-blind, placebo-controlled trial of laropiprant in preterm labor.
    Denison Mines Corp. (DNN) lost over -9.3% at $0.32 in pre-market trading Monday 16 November 2020 after the company announced the establishment of the At-The-Market Program.
    Pyxis Tankers Inc. (PXS) is down more than -25.74% at $0.8763 in pre-market hours Monday 16 November 2020 as the company announced results for its 3rd quarter and year to date. The stock had dropped over 0.00% to $1.18 in the last trading session.
    Before the trading started on 16 November 2020, Qutoutiao Inc. (QTT) is down -2.13% to reach $2.3. It has been trading in a 52-week range of $2.12 to $6.55.
    Uxin Limited (UXIN) stock plunged -3.85% to $1.0 in the pre-market trading after the news that the company’s Net Promoter Score (NPS) increases to 30 during the quarter ended September 30, 2020. The most recent rating by JP Morgan, on October 23, 2019, is at a Neutral.
    VistaGen Therapeutics Inc. (NASDAQ: VTGN) shares are trading down -2.13% at $0.6851 at the time of writing. The company’s 52-week range was noted as $0.29 to $1.15. Analysts have a consensus price target of $6.
    Sypris Solutions Inc. (SYPR), an Auto Parts company, dropped about -3.6% at $1.34 in pre-market trading Monday after the company announced its 3rd quarter earnings results.
    Alterity Therapeutics Limited (ATHE) stock moved up 169.57 percent to $3.1 in the pre-market trading.