OraSure Technologies (NASDAQ:OSUR) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• OraSure Technologies’ stock crossed above its 200-day moving average, trading as high as $4.32 and last changing hands at $4.25. The 200-day average was $3.26, suggesting a recent technical breakout.
• Wall Street sentiment remains cautious: Weiss Ratings upgraded the stock only from “sell (e+)” to “sell (d-)”, and the average analyst rating is still “Reduce” with a target price of $3.00.
• Insider and institutional buying has been active, including a director’s 25,000-share purchase, while hedge funds and other institutional investors now own 93.5% of the company’s shares.

OraSure Technologies, Inc. (NASDAQ:OSUR - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.26 and traded as high as $4.32. OraSure Technologies shares last traded at $4.25, with a volume of 296,428 shares changing 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $3.00.

OraSure Technologies Trading Down 0.2%

The company has a 50-day simple moving average of $3.95 and a 200 day simple moving average of $3.26. The company has a market cap of $292.61 million, a P/E ratio of -4.09 and a beta of 1.01.

Insider Activity at OraSure Technologies

In related news, Director Steven Kyle Boyd purchased 25,000 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $2.99 per share, for a total transaction of $74,750.00. Following the completion of the acquisition, the director owned 113,462 shares in the company, valued at approximately $339,251.38. This trade represents a 28.26% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.70% of the company's stock.

Hedge Funds Weigh In On OraSure Technologies

A number of institutional investors have recently modified their holdings of the stock. Amundi purchased a new stake in shares of OraSure Technologies in the first quarter valued at approximately $47,000. AQR Capital Management LLC increased its holdings in OraSure Technologies by 48.3% during the 1st quarter. AQR Capital Management LLC now owns 1,041,875 shares of the medical instruments supplier's stock worth $3,511,000 after purchasing an additional 339,493 shares during the period. NewEdge Advisors LLC increased its holdings in OraSure Technologies by 32,595.9% during the 1st quarter. NewEdge Advisors LLC now owns 47,736 shares of the medical instruments supplier's stock worth $161,000 after purchasing an additional 47,590 shares during the period. Empowered Funds LLC raised its position in OraSure Technologies by 7.2% during the 1st quarter. Empowered Funds LLC now owns 405,216 shares of the medical instruments supplier's stock valued at $1,366,000 after purchasing an additional 27,310 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in OraSure Technologies by 32.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 33,018 shares of the medical instruments supplier's stock valued at $99,000 after purchasing an additional 8,133 shares in the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

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.

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