OraSure Technologies (NASDAQ:OSUR) Stock Crosses Above 200 Day Moving Average – What’s Next?

Shares of OraSure Technologies, Inc. (NASDAQ:OSUR) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.02 and traded as high as $3.10. OraSure Technologies shares last traded at $3.02, with a volume of 510,300 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of OraSure Technologies in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, OraSure Technologies has a consensus rating of “Reduce” and a consensus price target of $3.00.

OraSure Technologies Stock Performance

The company has a market capitalization of $220.88 million, a PE ratio of -4.51 and a beta of 0.46. The company’s fifty day moving average is $3.14 and its 200-day moving average is $3.02.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Private Management Group Inc. bought a new stake in OraSure Technologies during the 1st quarter valued at $14,886,000. Gagnon Securities LLC purchased a new stake in shares of OraSure Technologies during the first quarter valued at $3,619,000. Gagnon Advisors LLC purchased a new stake in OraSure Technologies in the first quarter valued at approximately $2,687,000. Systematic Financial Management LP lifted its position in OraSure Technologies by 35.3% during the second quarter. Systematic Financial Management LP now owns 2,229,076 shares of the medical instruments supplier’s stock valued at $6,687,000 after purchasing an additional 581,926 shares during the period. Finally, Cannell Capital LLC boosted its holdings in OraSure Technologies by 33.7% in the second quarter. Cannell Capital LLC now owns 1,864,989 shares of the medical instruments supplier’s stock valued at $5,595,000 after purchasing an additional 470,536 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

About OraSure Technologies

OraSure Technologies, Inc, together with its subsidiaries, provides point-of-care and home diagnostic tests, specimen collection devices, and microbiome laboratory and analytical services in the United States, Europe, and internationally. The company’s products include InteliSwab COVID-19 rapid test, InteliSwab COVID-19 rapid test pro, InteliSwab COVID-19 rapid test rx, OraQuick Rapid HIV test, OraQuick In-Home HIV test, OraQuick HIV self-test, OraQuick HCV rapid antibody test, OraQuick Ebola rapid antigen test, OraSure oral fluid collection device used in conjunction with screening and confirmatory tests for HIV-1 antibodies; Intercept drug testing systems; immunoassay tests and reagents; and Q.E.D.