CEMI - Watch for Continued Losses in Shares of Chembio Diagnostics Inc. (CEMI)

Shares of Chembio Diagnostics Inc. (NASDAQ:CEMI) traded today at $2.81, breaking its 52-week low. This new low was reached on below average trading volume as 115,000 shares traded hands, while the average 30-day volume is approximately 448,000 shares.

Chembio Diagnostics Inc is a company that develops, manufactures, and commercializes point-of-care diagnostic tests that detect infectious diseases. The products of the company include rapid tests for the detection of HIV 1/2 antibodies and a multiplex rapid test for the detection of HIV and syphilis antibodies. The company offered rapid medical tests that are offered in Africa, Asia, Europe, and the Middle East, Latin America and the United States, of which key revenue is derived from Latin America.

Over the past year, Chembio Diagnostics Inc. has traded in a range of $2.81 to $8.75 and is now at $2.88.

Chembio Diagnostics Inc. has overhead space with shares priced $2.88, or 11.1% below the average consensus analyst price target of $3.24.

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