OraSure Technologies (NASDAQ:OSUR) Shares Cross Above 200 Day Moving Average – Should You Sell?

OraSure Technologies, Inc. (NASDAQ:OSUR)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.77 and traded as high as $3.30. OraSure Technologies shares last traded at $3.29, with a volume of 625,305 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of OraSure Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $3.00.

OraSure Technologies Price Performance

The firm has a market cap of $226.52 million, a P/E ratio of -3.16 and a beta of 0.89. The business’s 50-day moving average is $3.06 and its two-hundred day moving average is $2.77.

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

Insider Transactions at OraSure Technologies

In related news, CFO Kenneth J. Mcgrath bought 32,300 shares of the business’s stock in a transaction dated 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 purchase, the chief financial officer owned 589,562 shares in the company, valued at $1,727,416.66. This represents a 5.80% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Manner Carrie Eglinton bought 32,300 shares of the business’s stock in a transaction dated Friday, March 20th. The shares were bought at an average price of $2.93 per share, with a total value of $94,639.00. Following the purchase, the chief executive officer owned 2,190,874 shares in the company, valued at $6,419,260.82. The trade was a 1.50% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders purchased 158,643 shares of company stock worth $470,657. 3.90% of the stock is owned by insiders.

Institutional Trading of OraSure Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sei Investments Co. raised its stake in OraSure Technologies by 126.9% in the 1st quarter. Sei Investments Co. now owns 417,958 shares of the medical instruments supplier’s stock worth $1,254,000 after purchasing an additional 233,732 shares in the last quarter. Yorkville Advisors Global LP bought a new stake in shares of OraSure Technologies during the 1st quarter valued at approximately $1,905,000. IMC Chicago LLC bought a new stake in shares of OraSure Technologies during the 1st quarter valued at approximately $71,000. Diversify Wealth Management LLC bought a new stake in shares of OraSure Technologies during the 1st quarter valued at approximately $36,000. Finally, Hsbc Holdings PLC grew its holdings in shares of OraSure Technologies by 4.6% during the 1st quarter. Hsbc Holdings PLC now owns 141,309 shares of the medical instruments supplier’s stock valued at $421,000 after purchasing an additional 6,218 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.