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

OraSure Technologies, Inc. (NASDAQ:OSUR) crossed above its 200-day moving average during trading on Friday . The stock has a 200-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 reissued a “sell (d)” rating on shares of OraSure Technologies in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $3.00.

OraSure Technologies Trading Down 3.9%

The company’s 50 day simple moving average is $2.81 and its 200 day simple moving average is $2.80. The stock has a market capitalization of $205.32 million, a PE ratio of -3.19 and a beta of 0.88.

OraSure Technologies (NASDAQ:OSUR) last announced its quarterly earnings data 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 business had revenue of $26.76 million during the quarter, compared to analysts’ expectations of $26.44 million. OraSure Technologies had a negative net margin of 59.76% and a negative return on equity of 16.45%. As a group, analysts predict that OraSure Technologies, Inc. will post -0.08 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Quadrature Capital Ltd bought a new stake in OraSure Technologies in the fourth quarter valued at about $28,000. Prudential Financial Inc. bought a new stake in shares of OraSure Technologies in the 2nd quarter worth approximately $31,000. Nierenberg Investment Management Company Inc. acquired a new position in OraSure Technologies during the 2nd quarter valued at approximately $35,000. L2 Asset Management LLC bought a new position in OraSure Technologies during the 2nd quarter worth $39,000. Finally, Coldstream Capital Management Inc. increased its position in OraSure Technologies by 128.2% in the second quarter. Coldstream Capital Management Inc. now owns 13,308 shares of the medical instruments supplier’s stock worth $40,000 after buying an additional 7,477 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.

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.