OraSure Technologies (NASDAQ:OSUR) Shares Pass Above 200 Day Moving Average – Time to Sell?
by Doug Wharley · The Cerbat GemOraSure Technologies, Inc. (NASDAQ:OSUR – Get Free Report)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.77 and traded as high as $3.30. OraSure Technologies shares last traded at $3.29, with a volume of 625,305 shares traded.
Wall Street Analyst Weigh In
Separately, Weiss Ratings lowered OraSure Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, OraSure Technologies presently has a consensus rating of “Reduce” and an average price target of $3.00.
Read Our Latest Stock Report on OSUR
OraSure Technologies Trading Up 9.7%
The company has a market cap of $248.55 million, a price-to-earnings ratio of -3.47 and a beta of 0.89. The company has a fifty day moving average price of $3.07 and a two-hundred day moving average price of $2.78.
OraSure Technologies (NASDAQ:OSUR – Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The medical instruments supplier reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.02). OraSure Technologies had a negative return on equity of 18.57% and a negative net margin of 66.42%.The firm had revenue of $26.76 million for the quarter, compared to analyst estimates of $26.44 million.
Insider Buying and Selling
In related news, CFO Kenneth J. Mcgrath bought 32,300 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average price of $2.93 per share, for a total transaction of $94,639.00. Following the transaction, the chief financial officer directly owned 589,562 shares of the company’s stock, valued at $1,727,416.66. This represents a 5.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Manner Carrie Eglinton bought 32,300 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The shares were bought at an average price of $2.93 per share, with a total value of $94,639.00. Following the transaction, the chief executive officer directly owned 2,190,874 shares in the company, valued at $6,419,260.82. This trade represents a 1.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 158,643 shares of company stock worth $470,657 in the last 90 days. 3.90% of the stock is owned by company insiders.
Hedge Funds Weigh In On OraSure Technologies
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. lifted its position in shares of OraSure Technologies by 126.9% during the 1st quarter. Sei Investments Co. now owns 417,958 shares of the medical instruments supplier’s stock worth $1,254,000 after buying an additional 233,732 shares during the period. Yorkville Advisors Global LP bought a new position in shares of OraSure Technologies during the 1st quarter worth approximately $1,905,000. IMC Chicago LLC bought a new position in shares of OraSure Technologies during the 1st quarter worth approximately $71,000. Diversify Wealth Management LLC bought a new position in shares of OraSure Technologies during the 1st quarter worth approximately $36,000. Finally, Hsbc Holdings PLC lifted its position in shares of OraSure Technologies by 4.6% during the 1st quarter. Hsbc Holdings PLC now owns 141,309 shares of the medical instruments supplier’s stock worth $421,000 after buying an additional 6,218 shares during the period. Institutional investors own 93.50% of the company’s stock.
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.