OraSure Technologies (NASDAQ:OSUR) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

OraSure Technologies, Inc. (NASDAQ:OSUR) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.07 and traded as high as $4.43. OraSure Technologies shares last traded at $4.41, with a volume of 577,089 shares changing hands.

Wall Street Analyst Weigh In

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

OraSure Technologies Stock Performance

The company has a market capitalization of $303.63 million, a P/E ratio of -4.24 and a beta of 1.02. The stock’s fifty day moving average price is $3.60 and its 200-day moving average price is $3.07.

Insiders Place Their Bets

In other OraSure Technologies news, Director Steven Kyle Boyd acquired 25,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $2.99 per share, for a total transaction of $74,750.00. Following the completion of the purchase, the director directly owned 113,462 shares of the company’s stock, valued at approximately $339,251.38. This represents a 28.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Altai Capital Management L.P. increased its holdings in shares of OraSure Technologies by 73.4% during 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. Peapod Lane Capital LLC lifted its holdings in OraSure Technologies by 51.1% during the 4th quarter. Peapod Lane Capital LLC now owns 1,018,470 shares of the medical instruments supplier’s stock valued at $2,465,000 after purchasing an additional 344,437 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in OraSure Technologies during the 3rd quarter valued at $808,000. Cannell Capital LLC lifted its holdings in OraSure Technologies by 12.6% during the 3rd quarter. Cannell Capital LLC now owns 2,099,815 shares of the medical instruments supplier’s stock valued at $6,740,000 after purchasing an additional 234,826 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in OraSure Technologies by 77.7% during the fourth quarter. SG Americas Securities LLC now owns 19,748 shares of the medical instruments supplier’s stock worth $48,000 after purchasing an additional 8,632 shares during the period. 93.50% of the stock is currently owned by institutional investors.

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.