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

Key Points

• OraSure Technologies shares crossed above their 200-day moving average, reaching $4.02 and last trading at $3.95 versus the $3.64 long-term average.
• Analyst sentiment remains cautious: the stock has an average rating of “Reduce” and a $3.00 price target, despite one recent upgrade from Sell to Hold.
• Institutional ownership stands at 93.5%, with BlackRock, Altai Capital Management and Cannell Capital among investors that recently established positions.

OraSure Technologies, Inc. (NASDAQ:OSUR - Get Free Report) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $3.64 and traded as high as $4.02. OraSure Technologies shares last traded at $3.95, with a volume of 848,227 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on OSUR shares. Wall Street Zen upgraded OraSure Technologies from a "sell" rating to a "hold" rating in a research note on Monday, August 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of OraSure Technologies in a research report on Tuesday, September 1st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, OraSure Technologies presently has an average rating of "Reduce" and an average price target of $3.00.

OraSure Technologies Trading Up 0.5%

The stock has a market cap of $272.43 million, a P/E ratio of -5.72 and a beta of 0.99. The company's fifty day simple moving average is $3.77 and its 200-day simple moving average is $3.64.

Institutional Trading of OraSure Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in OraSure Technologies during the second quarter worth about $27,905,000. Altai Capital Management L.P. acquired a new stake in OraSure Technologies during the second quarter valued at approximately $16,118,000. Cannell Capital LLC bought a new stake in shares of OraSure Technologies in the 2nd quarter valued at approximately $6,366,289. Yorkville Advisors Global LP bought a new stake in shares of OraSure Technologies in the 1st quarter valued at approximately $1,905,000. Finally, Sei Investments Co. grew its stake in shares of OraSure Technologies by 126.9% in the 1st quarter. Sei Investments Co. now owns 417,958 shares of the medical instruments supplier's stock valued at $1,254,000 after purchasing an additional 233,732 shares during the period. Institutional investors own 93.50% of the company's stock.

OraSure Technologies Company Profile

OraSure Technologies, Inc is a diagnostics and specimen-collection company that develops, manufactures and distributes point-of-care and at-home testing products, collection devices and laboratory technologies. Its solutions are used in infectious-disease screening, molecular testing, genomics, microbiome research and other applications requiring the collection, stabilization and analysis of biological samples.

The company is best known for its OraQuick portfolio of rapid tests, including oral-fluid tests for HIV and hepatitis C.

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