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

OraSure Technologies, Inc. (NASDAQ:OSUR)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.80 and traded as high as $3.15. OraSure Technologies shares last traded at $2.97, with a volume of 646,154 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of OraSure Technologies in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $3.00.

OraSure Technologies Trading Down 3.9%

The firm has a market capitalization of $205.30 million, a price-to-earnings ratio of -3.19 and a beta of 0.88. The stock’s 50-day moving average is $2.81 and its 200-day moving average is $2.80.

OraSure Technologies (NASDAQ:OSUR) last issued its earnings results on Wednesday, February 25th. The medical instruments supplier reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The company 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 59.76% and a negative return on equity of 16.45%. On average, equities research analysts anticipate that OraSure Technologies, Inc. will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On OraSure Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of OSUR. Kotler Kevin bought a new position in OraSure Technologies in the fourth quarter valued at about $4,359,000. Altai Capital Management L.P. boosted its position in 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 buying an additional 1,586,488 shares during the period. Private Management Group Inc. boosted its position in OraSure Technologies by 23.6% during the 2nd quarter. Private Management Group Inc. now owns 5,461,440 shares of the medical instruments supplier’s stock worth $16,384,000 after buying an additional 1,044,213 shares during the period. Millennium Management LLC grew its holdings in OraSure Technologies by 71.1% during 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. Finally, Systematic Financial Management LP grew its holdings in OraSure Technologies by 35.3% during the 2nd quarter. Systematic Financial Management LP now owns 2,229,076 shares of the medical instruments supplier’s stock worth $6,687,000 after acquiring an additional 581,926 shares during the last quarter. 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.