Let’s Look Forward As Chembio Diagnostics, Inc. (CEMI) And Cabot Corporation (CBT) Hit A Home Run

The stocks of Chembio Diagnostics, Inc. (NASDAQ:CEMI) has been Initiated to Buy by Dougherty & Company in its latest research note that was published on December 19. The stock also received a Speculative Buy rating from The Benchmark Company with the price target of $10 to $9. This was contained in a research note published by the firm on August 11. The stock received a Speculative Buy rating and a price target of $6 to $8 in The Benchmark Company’s research note that was published on April 18.

Chembio’s stock is covered by 4 analysts, with 4 of them rating the stock as Buy. It has been deemed to have strong buy by none of the analysts, none of them have rated it as a Hold while none of them rated it as sell. The situation was different a month ago when the stock was rated as a Buy by only 3 analysts. None of them rated it as strong buy with none of them recommended investors to Hold on to the stock. Meanwhile, none analyst(s) rated it as a sell. The above data shows that CEMI has an average analyst rating of Buy.

Chembio Diagnostics, Inc., which has current market capitalization of above $75 Million, published its last quarter earnings on September 30, 2019. The company was able to amass $10 Million in revenue, which saw a quarterly growth rate of 3.67 percent. During that quarter of the year, Chembio also recorded $-0.22 earnings per share (EPS) which is $-0.03 above the $-0.19 estimated by the analysts, leading to a surprise factor of -15.79%.

CEMI surged by $0.09 during the normal trading session on Monday and reaching a high of $4.69 during the day while it closed the day at $4.52. The Chembio stock had a low trading volume of 0.06 million shares on that day, which is low compared to the average daily volume of 55.40M shares. CEMI has retained its value over the past 7 days. However, the stock has declined by 13.58% in the 3 months of the year. Over the past six months meanwhile, it has lost 39.93% while it has lost 20.14% year-on date.

Shares in Cabot Corporation (NYSE:CBT) fell by -0.29 percent on Monday. The company’s stock began trading at $47.91 below the previous closing price of $48.05, and finished the day at $48.24. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -4.63% from its 3 months high price. However, taking another look at CBT will indicate that it is trading +28.23% away from its 90-day low. Looking at the bigger picture, the Cabot Corporation stock has dropped by -5.23% from its 52-week high while it has surged by +29.99% from its 52-week low price.

Let us now take a quick look at the stock’s short, medium and long-term indicators. Composite Indicator shows that CBT stock was rated as a Buy by TrendSpotter. Its short-term indicators reveal that Cabot has a 20-day average volume of 311915 shares. This has led to the CBT price forecast being placed as a 100%Buy on an average basis. In the medium term, however, the CBT stock has its 50-Day average volume of 289796 shares, with the indicators also rating it as a 100%Buy. Finally, in the long-term, the CBT stocks have a 100-Day average volume of 322210 shares, with the long-term indicators rating the stock as 50%Buy. Looking at the three indicators, the CBT stock has been set on a 0.88 Buy rating.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 72.27%. This figure is better than the company’s 20-day Raw Stochastic average which currently stands at 69.01%. Over the past 20 days, Cabot’s Stochastic %K stood at 71.66% while its Stochastic %D was revealed to be 76.79%.