OraSure Technologies (NASDAQ:OSUR) Shares Pass Above 200-Day Moving Average – Time to Sell?

OraSure Technologies, Inc. (NASDAQ:OSUR)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.79 and traded as high as $3.04. OraSure Technologies shares last traded at $2.98, with a volume of 468,937 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Stephens decreased their price objective on shares of OraSure Technologies from $3.50 to $3.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (d)” rating on shares of OraSure Technologies in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $3.00.

OraSure Technologies Price Performance

The stock has a fifty day simple moving average of $2.74 and a 200-day simple moving average of $2.80. The company has a market capitalization of $228.82 million, a price-to-earnings ratio of -3.43 and a beta of 0.88.

OraSure Technologies (NASDAQ:OSUR) last issued its quarterly earnings data on Wednesday, February 25th. The medical instruments supplier reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). OraSure Technologies had a negative return on equity of 16.45% and a negative net margin of 59.76%.The firm had revenue of $26.76 million for the quarter, compared to analyst estimates of $26.44 million. As a group, equities analysts expect that OraSure Technologies, Inc. will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On OraSure Technologies

Several hedge funds have recently modified their holdings of the company. Invesco Ltd. grew its position in shares of OraSure Technologies by 11.1% during the 4th quarter. Invesco Ltd. now owns 161,182 shares of the medical instruments supplier’s stock valued at $390,000 after acquiring an additional 16,041 shares during the period. XTX Topco Ltd raised its holdings in OraSure Technologies by 57.8% in the 4th quarter. XTX Topco Ltd now owns 121,144 shares of the medical instruments supplier’s stock worth $293,000 after purchasing an additional 44,379 shares during the period. Quadrature Capital Ltd purchased a new position in OraSure Technologies during the fourth quarter worth approximately $28,000. Numerai GP LLC acquired a new stake in OraSure Technologies in the fourth quarter valued at approximately $100,000. Finally, Odyssean LLC acquired a new stake in OraSure Technologies in the fourth quarter valued at approximately $162,000. 93.50% of the stock is owned by hedge funds and other institutional investors.

OraSure Technologies Company Profile

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.