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CEMI, a $40 million firm, has been quietly reaching new 52-week highs. |
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Released on Wednesday, August 8, 2012, 5:45 AM ET
Pittsburgh, PA (SpeculatingStocks) - Chembio Diagnostics, Inc. (NASDAQ:CEMI) is quite the undiscovered opportunity, though it has started to see more attention over the past three weeks with greater volume coming into CEMI shares.
The company offers rapid tests for the detection of HIV antibodies, syphilis, and canine leishmaniasis. Best of all, CEMI is generating major revenue and profits for its size. Last year, CEMI generated revenue of $19.3 million and net income of $6.20 million.
CEMI has grown revenue the past 4 quarters from $3.61 million to $5.92 million to $6.21 million to $6.65 million last quarter. Also, nothing appears wrong with their balance sheet with cash and cash equivalents of $2.95 million and long term debt of only $121k last quarter.
The company has also entered into a follow-on, milestone-based development agreement with the United States CDC of up to $480,000 based on Chembio's previous successful initial development of a multiplex rapid point-of-care ("POC") influenza immunity test utilizing its patented Dual Path Platform (DPP(R)) technology. Influenza immunity test with fall and winter coming, this is huge for CEMI.
This is the time of year when flu stocks start to move big, but this is more than just a flu-related stock. This is an outstanding opportunity for investors. CEMI's chart has been reflecting its fundamentals with the chart trending higher from the $2.50 level to a new 52-week high reached yesterday of $5.30. CEMI is still just being discovered and has significant room to move.
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