OraSure Technologies (NASDAQ:OSUR) Stock Breaks Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• OraSure Technologies shares broke above their 200-day moving average, reaching $4.18 and recently trading at $4.13, compared with the average of $3.74.
• Analyst sentiment remains cautious: two analysts rate the stock Hold and one rates it Sell, producing a consensus “Reduce” rating and a $3.00 target price.
• Institutional investors and hedge funds own 93.5% of the company, with several firms increasing or initiating positions during the second quarter.

OraSure Technologies, Inc. (NASDAQ:OSUR - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $3.74 and traded as high as $4.18. OraSure Technologies shares last traded at $4.13, with a volume of 1,158,221 shares trading hands.

Analysts Set New Price Targets

A number of research firms have issued reports on OSUR. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of OraSure Technologies in a report on Tuesday, September 1st. Wall Street Zen upgraded OraSure Technologies from a "sell" rating to a "hold" rating in a report on Monday, August 10th. Finally, Zacks Research raised OraSure Technologies to a "hold" rating in a research report on Friday, October 2nd. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $3.00.

OraSure Technologies Stock Performance

The company has a market capitalization of $284.85 million, a price-to-earnings ratio of -5.99 and a beta of 1.03. The firm's 50-day simple moving average is $3.72 and its 200-day simple moving average is $3.74.

Hedge Funds Weigh In On OraSure Technologies

Large investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in shares of OraSure Technologies in the second quarter valued at $67,000. Susquehanna International Group LLP lifted its position in OraSure Technologies by 29.4% in the second quarter. Susquehanna International Group LLP now owns 198,779 shares of the medical instruments supplier's stock worth $887,000 after purchasing an additional 45,169 shares during the period. Two Sigma Securities LLC bought a new position in OraSure Technologies in the second quarter worth $55,000. Cannell Capital LLC bought a new position in OraSure Technologies in the second quarter worth $6,366,289. Finally, Public Employees Retirement System of Ohio acquired a new stake in OraSure Technologies during the second quarter worth $416,000. Institutional investors and hedge funds own 93.50% of the company's stock.

OraSure Technologies Company Profile

OraSure Technologies, Inc develops, manufactures and markets diagnostic products and specimen-collection technologies used by healthcare providers, laboratories, researchers and consumers. The company focuses on making testing more accessible through products that support decentralized, point-of-care and at-home testing, as well as laboratory-based molecular and diagnostic workflows.

Its portfolio has included the OraQuick line of rapid diagnostic tests, including oral-fluid tests for HIV and hepatitis C, along with other infectious-disease testing products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.