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Chembio Diagnostics (CEMI) Surges: Stock Moves 8.5% Higher

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Chembio Diagnostics, Inc. (CEMI - Free Report) was a big mover last session, as the company saw its shares rise more than 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company—as the stock is now up 51.7% in the past one-month time frame.

The move came after the company received a contract from the Biomedical Advanced Research and Development Authority for the development of Rapid DPP Respiratory Antigen Panel and 510(k) submission of the Rapid DPP SARS-CoV-2 Antigen Test System.

The company has seen a mixed track record when it comes to no estimate revisions over the past few months, while the Zacks Consensus Estimate for the current quarter hasn’t been in a trend either. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Chembio Diagnostics currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.

A better-ranked stock in the Medical - Products industry is Quidel Corporation (QDEL - Free Report) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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Chembio Diagnostics, Inc. (CEMI) - free report >>

Quidel Corporation (QDEL) - free report >>