OraSure Technologies (NASDAQ:OSUR) Stock Passes Above 200 Day Moving Average – Here’s Why

Shares of OraSure Technologies, Inc. (NASDAQ:OSUR) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.98 and traded as high as $4.36. OraSure Technologies shares last traded at $4.32, with a volume of 657,834 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of OraSure Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $3.00.

OraSure Technologies Price Performance

The business’s 50-day moving average price is $3.43 and its two-hundred day moving average price is $2.98. The company has a market capitalization of $297.43 million, a price-to-earnings ratio of -4.15 and a beta of 1.02.

Insider Activity

In other OraSure Technologies news, CEO Manner Carrie Eglinton purchased 32,300 shares of the company’s stock in a transaction dated Friday, March 20th. The stock was bought at an average cost of $2.93 per share, for a total transaction of $94,639.00. Following the completion of the transaction, the chief executive officer owned 2,190,874 shares in the company, valued at approximately $6,419,260.82. This represents a 1.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Steven Kyle Boyd purchased 25,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was acquired at an average price of $2.99 per share, with a total value of $74,750.00. Following the completion of the transaction, the director owned 113,462 shares of the company’s stock, valued at $339,251.38. This represents a 28.26% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 114,600 shares of company stock worth $338,528. Corporate insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OSUR. Quadrature Capital Ltd bought a new position in OraSure Technologies in the fourth quarter valued at approximately $28,000. Prudential Financial Inc. bought a new position in OraSure Technologies in the second quarter valued at approximately $31,000. Diversify Wealth Management LLC bought a new position in OraSure Technologies in the first quarter valued at approximately $36,000. Amundi bought a new position in OraSure Technologies in the first quarter valued at approximately $47,000. Finally, SG Americas Securities LLC increased its stake in OraSure Technologies by 77.7% in the fourth quarter. SG Americas Securities LLC now owns 19,748 shares of the medical instruments supplier’s stock valued at $48,000 after acquiring an additional 8,632 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

About OraSure Technologies

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.