Shorts Action: Chembio Diagnostics Incorporated (NASDAQ:CEMI)’s Trend Unknown, Especially After Increased Shorts

November 29, 2016 - By Adrian Mccoy   ·   0 Comments

Shorts Action: Chembio Diagnostics Incorporated (NASDAQ:CEMI)’s Trend Unknown, Especially After Increased Shorts

The stock of Chembio Diagnostics Incorporated (NASDAQ:CEMI) registered an increase of 4.17% in short interest. CEMI’s total short interest was 117,500 shares in November as published by FINRA. Its up 4.17% from 112,800 shares, reported previously. With 25,900 shares average volume, it will take short sellers 5 days to cover their CEMI’s short positions. The short interest to Chembio Diagnostics Incorporated’s float is 1.28%. The stock closed at $7 during the last session. It is down 1.96% since April 26, 2016 and is downtrending. It has underperformed by 7.22% the S&P500.

Chembio Diagnostics, Inc. , and its subsidiary, Chembio Diagnostic Systems, Inc., develop, manufacture, market and license rapid point-of-care diagnostic tests (POCTs) that detect infectious diseases. The company has a market cap of $84.79 million. The Company’s products available are rapid tests for the detection of human immunodeficiency virus (HIV) 1/2 antibodies, and a multiplex rapid test for the detection of HIV and Syphilis antibodies. It currently has negative earnings. The HIV 1/2 rapid tests employ in-licensed and lateral flow technologies that are used with all blood matrices as samples, and are manufactured in a standard cassette format, a dipstick format and a barrel format.

CEMI Company Profile

Chembio Diagnostics, Inc. (Chembio), incorporated on May 14, 1999, and its subsidiary, Chembio Diagnostic Systems, Inc., develop, manufacture, market and license rapid point-of-care diagnostic tests (POCTs) that detect infectious diseases. The Company’s products include rapid tests for the detection of human immunodeficiency virus (HIV) 1/2 antibodies, and a multiplex rapid test for the detection of HIV and Syphilis antibodies. The HIV 1/2 rapid tests employ in-licensed and lateral flow technologies that are used with all blood matrices as samples, and are manufactured in a standard cassette format, a dipstick format, and a barrel format. The barrel format is distributed by a distributor in the United States and by Chembio and its designated distributors outside the United States. The Cassette format is distributed by Chembio and its designated distributors around the world. The Company’s HIV 1/2 rapid antibody detection test incorporates the Dual Path Platform (DPP) POCT technology. The DPP HIV 1/2 Assay detects antibodies to HIV 1 and 2 in oral fluid samples, as well as in all blood matrices.

More notable recent Chembio Diagnostics Inc (NASDAQ:CEMI) news were published by: Globenewswire.com which released: “Chembio Diagnostics, Inc. Announces Closing of Offering and Underwriters’ Full …” on August 03, 2016, also Marketwatch.com with their article: “/quotes/zigman/3870025/realtime” published on May 07, 2011, Newsday.com published: “Chembio Diagnostics losses widen in fourth quarter” on March 08, 2016. More interesting news about Chembio Diagnostics Inc (NASDAQ:CEMI) were released by: Newsday.com and their article: “Chembio Diagnostics to sell rapid tests in Caribbean” published on August 18, 2016 as well as Newsday.com‘s news article titled: “Chembio Diagnostics joining biotech firm to develop rapid test for Ebola” with publication date: October 27, 2014.

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By Adrian Mccoy


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