OraSure Technologies (NASDAQ:OSUR) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

OraSure Technologies, Inc. (NASDAQ:OSUR) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.18 and traded as high as $4.40. OraSure Technologies shares last traded at $4.32, with a volume of 496,215 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of OraSure Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 4th. One investment 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 has an average rating of “Reduce” and an average target price of $3.00.

OraSure Technologies Stock Performance

The company has a market capitalization of $297.43 million, a PE ratio of -4.15 and a beta of 1.01. The company has a 50 day moving average price of $3.80 and a 200 day moving average price of $3.18.

Insider Buying and Selling

In related news, Director Steven Kyle Boyd acquired 25,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was bought at an average cost of $2.99 per share, with a total value of $74,750.00. Following the acquisition, the director directly owned 113,462 shares in the company, valued at approximately $339,251.38. The trade was a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On OraSure Technologies

Several large investors have recently modified their holdings of OSUR. Altai Capital Management L.P. increased its holdings in OraSure Technologies by 73.4% in the third quarter. Altai Capital Management L.P. now owns 3,748,836 shares of the medical instruments supplier’s stock valued at $12,034,000 after buying an additional 1,586,488 shares during the last quarter. Millennium Management LLC increased 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 valued at $6,781,000 after acquiring an additional 878,151 shares during the last quarter. Cannell Capital LLC raised its position in shares of 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 acquiring an additional 234,826 shares in the last quarter. Geode Capital Management LLC lifted its stake in OraSure Technologies by 6.4% during the second quarter. Geode Capital Management LLC now owns 1,869,868 shares of the medical instruments supplier’s stock worth $5,611,000 after purchasing an additional 112,851 shares during the last quarter. Finally, Kotler Kevin acquired a new position in OraSure Technologies in the fourth quarter worth $4,359,000. Institutional investors own 93.50% of the company’s stock.

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.