OraSure Technologies (NASDAQ:OSUR) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• OraSure Technologies shares crossed above their 200-day moving average of $3.71, reaching $3.81 before closing at $3.71 on trading volume of 355,981 shares.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce”, with two Hold ratings and one Sell rating, and an average price target of $3.00.
• Institutional investors own 93.5% of the company; recent activity included new positions from Cannell Capital, Headlands Technologies, and other firms, while Susquehanna increased its stake by 29.4%.

OraSure Technologies, Inc. (NASDAQ:OSUR - Get Free Report) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $3.71 and traded as high as $3.81. OraSure Technologies shares last traded at $3.71, with a volume of 355,981 shares.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Zacks Research raised shares of OraSure Technologies to a "hold" rating in a report on Friday, October 2nd. Weiss Ratings reissued a "sell (d-)" rating on shares of OraSure Technologies in a research note on Tuesday, September 1st. Finally, Wall Street Zen raised shares of OraSure Technologies from a "sell" rating to a "hold" rating in a research note on Monday, August 10th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, OraSure Technologies currently has a consensus rating of "Reduce" and an average target price of $3.00.

OraSure Technologies Price Performance

The company has a 50-day moving average price of $3.73 and a 200 day moving average price of $3.71. The firm has a market capitalization of $255.88 million, a PE ratio of -5.38 and a beta of 1.03.

Institutional Trading of OraSure Technologies

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

OraSure Technologies Company Profile

OraSure Technologies, Inc develops and manufactures diagnostic products, specimen collection devices, and molecular testing solutions. The company's offerings are designed for use by consumers, healthcare providers, laboratories, public health organizations, and research customers, with an emphasis on convenient and less-invasive sample collection and testing.

OraSure is best known for its OraQuick portfolio, which has included rapid tests for HIV and hepatitis C that use oral-fluid or finger-stick samples.

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