OraSure Technologies (NASDAQ:OSUR) Stock Crosses Above 200 Day Moving Average - What's Next?

Key Points

• OraSure Technologies' stock price surpassed its 200-day moving average of $3.02, trading as high as $3.10 with a recent share price of $3.02 during heavy trading volume of 510,300 shares.
• Weiss Ratings has issued a "sell (d)" rating for the stock, contributing to an average rating of "Reduce" among analysts, with a price target set at $3.00.
• Institutional investors hold a significant 93.50% of OraSure's stock, with recent stakes being acquired by firms such as Farther Finance Advisors LLC and Coldstream Capital Management Inc.

OraSure Technologies, Inc. (NASDAQ:OSUR - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.02 and traded as high as $3.10. OraSure Technologies shares last traded at $3.02, with a volume of 510,300 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of OraSure Technologies in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $3.00.

OraSure Technologies Stock Performance

The stock has a market cap of $220.88 million, a price-to-earnings ratio of -4.51 and a beta of 0.46. The company has a 50-day simple moving average of $3.14 and a two-hundred day simple moving average of $3.02.

Institutional Investors Weigh In On OraSure Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC acquired a new stake in OraSure Technologies during the 2nd quarter worth approximately $26,000. Prudential Financial Inc. bought a new stake in shares of OraSure Technologies during the second quarter valued at approximately $31,000. Nierenberg Investment Management Company Inc. bought a new stake in shares of OraSure Technologies during the second quarter worth about $35,000. L2 Asset Management LLC bought a new stake in OraSure Technologies during the second quarter worth $39,000. Finally, Coldstream Capital Management Inc. boosted its holdings in OraSure Technologies by 128.2% during the second quarter. Coldstream Capital Management Inc. now owns 13,308 shares of the medical instruments supplier's stock worth $40,000 after purchasing an additional 7,477 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

OraSure Technologies Company Profile

OraSure Technologies, Inc, together with its subsidiaries, provides point-of-care and home diagnostic tests, specimen collection devices, and microbiome laboratory and analytical services in the United States, Europe, and internationally. The company's products include InteliSwab COVID-19 rapid test, InteliSwab COVID-19 rapid test pro, InteliSwab COVID-19 rapid test rx, OraQuick Rapid HIV test, OraQuick In-Home HIV test, OraQuick HIV self-test, OraQuick HCV rapid antibody test, OraQuick Ebola rapid antigen test, OraSure oral fluid collection device used in conjunction with screening and confirmatory tests for HIV-1 antibodies; Intercept drug testing systems; immunoassay tests and reagents; and Q.E.D.

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