OraSure Technologies (NASDAQ:OSUR) Share Price Breaks Above 200-Day Moving Average – Should You Sell?

OraSure Technologies, Inc. (NASDAQ:OSUR)’s share price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $3.54 and traded as high as $3.61. OraSure Technologies shares last traded at $3.56, with a volume of 713,141 shares.

Analysts Set New Price Targets

Several brokerages recently commented on OSUR. Craig Hallum raised shares of OraSure Technologies to a “strong-buy” rating in a research note on Friday, October 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of OraSure Technologies in a research report on Tuesday, September 1st. Wall Street Zen raised shares of OraSure Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 10th. Finally, Zacks Research raised shares of OraSure Technologies to a “hold” rating in a report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

OraSure Technologies Stock Performance

The business’s 50 day moving average price is $3.72 and its two-hundred day moving average price is $3.55. The stock has a market cap of $249.96 million, a P/E ratio of -5.25 and a beta of 1.08.

OraSure Technologies (NASDAQ:OSUR) last released its quarterly earnings results on Monday, November 9th. The medical instruments supplier reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.05. The company had revenue of $30.91 million during the quarter, compared to the consensus estimate of $31.00 million. OraSure Technologies had a negative net margin of 41.73% and a negative return on equity of 19.81%. As a group, analysts expect that OraSure Technologies, Inc. will post -0.96 earnings per share for the current year.

Hedge Funds Weigh In On OraSure Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Altai Capital Management L.P. purchased a new stake in OraSure Technologies in the second quarter worth about $16,118,000. BlackRock Inc. bought a new position in shares of OraSure Technologies during the second quarter valued at approximately $27,905,000. Cannell Capital LLC purchased a new position in shares of OraSure Technologies during the second quarter valued at approximately $6,366,289. Yorkville Advisors Global LP purchased a new position in shares of OraSure Technologies during the first quarter valued at approximately $1,905,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of OraSure Technologies during the second quarter valued at approximately $926,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

OraSure Technologies Company Profile

OraSure Technologies develops, manufactures and markets diagnostic tests and specimen-collection products for healthcare and public health. Its offerings include rapid tests for infectious diseases, including HIV and hepatitis C, as well as oral-fluid collection devices designed for use in clinical and other settings. Through its DNA Genotek business, OraSure also provides collection kits and related services for genetic and microbiome testing. Products include the Oragene and OMNIgene lines, which allow biological samples to be collected and transported for laboratory analysis.