OraSure Technologies (NASDAQ:OSUR) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of OraSure Technologies, Inc. (NASDAQ:OSUR) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.83 and traded as high as $4.33. OraSure Technologies shares last traded at $4.30, with a volume of 780,830 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut OraSure Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 21st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $3.00.

OraSure Technologies Trading Up 1.7%

The company has a market capitalization of $296.06 million, a price-to-earnings ratio of -4.13 and a beta of 0.89. The firm has a 50-day moving average price of $3.17 and a 200-day moving average price of $2.83.

OraSure Technologies (NASDAQ:OSUR) last issued its quarterly earnings results on Wednesday, February 25th. The medical instruments supplier reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.02). OraSure Technologies had a negative net margin of 66.42% and a negative return on equity of 18.57%. The firm had revenue of $26.76 million for the quarter, compared to analyst estimates of $26.44 million.

Insider Activity

In related news, Director Steven Kyle Boyd bought 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average cost of $2.99 per share, for a total transaction of $74,750.00. Following the acquisition, the director directly owned 113,462 shares of the company’s stock, valued at $339,251.38. The trade was a 28.26% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Manner Carrie Eglinton bought 32,300 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was bought at an average price of $2.93 per share, for a total transaction of $94,639.00. Following the completion of the acquisition, the chief executive officer directly owned 2,190,874 shares in the company, valued at approximately $6,419,260.82. The trade was a 1.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 158,643 shares of company stock worth $470,657. 3.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On OraSure Technologies

A number of hedge funds have recently modified their holdings of OSUR. Kotler Kevin acquired a new position in shares of OraSure Technologies in the 4th quarter worth $4,359,000. Altai Capital Management L.P. grew its holdings in shares of OraSure Technologies by 73.4% in the 3rd quarter. Altai Capital Management L.P. now owns 3,748,836 shares of the medical instruments supplier’s stock worth $12,034,000 after acquiring an additional 1,586,488 shares during the last quarter. Millennium Management LLC grew its holdings in shares of OraSure Technologies by 71.1% in the 3rd quarter. Millennium Management LLC now owns 2,112,507 shares of the medical instruments supplier’s stock worth $6,781,000 after acquiring an additional 878,151 shares during the last quarter. Yorkville Advisors Global LP acquired a new position in shares of OraSure Technologies in the 1st quarter worth $1,905,000. Finally, Archon Capital Management LLC acquired a new position in shares of OraSure Technologies in the 4th quarter worth $1,388,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

OraSure Technologies Company Profile

OraSure Technologies, Inc is a Bethlehem, Pennsylvania–based diagnostic and medical device company specializing in the development, manufacture and commercialization of point-of-care and self-testing products. Founded in 1988, OraSure has built a portfolio of oral fluid and other non-invasive specimen collection technologies that support the detection of infectious diseases, drugs of abuse, and health and wellness biomarkers.

The company’s flagship product, the OraQuick® rapid HIV test, was the first Food and Drug Administration–approved over-the-counter oral fluid test for the detection of HIV-1/2 antibodies.