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

OraSure Technologies, Inc. (NASDAQ:OSUR) crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred 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 changing hands.

Analysts Set New Price Targets

Several brokerages have recently commented on OSUR. Wall Street Zen upgraded OraSure Technologies from a “sell” rating to a “hold” rating in a research note on Monday, August 10th. Zacks Research raised OraSure Technologies to a “hold” rating in a research note on Friday, October 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OraSure Technologies in a research note on Tuesday, September 1st. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $3.00.

OraSure Technologies Trading Down 5.2%

The firm’s 50-day moving average is $3.73 and its 200-day moving average is $3.72. The firm has a market cap of $248.98 million, a price-to-earnings ratio of -5.23 and a beta of 1.03.

Institutional Investors Weigh In On OraSure Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in OSUR. Legal & General Group Plc acquired a new stake in shares of OraSure Technologies in the 2nd quarter worth about $30,000. Diversify Wealth Management LLC bought a new position in OraSure Technologies in the 1st quarter valued at about $36,000. Diversify Advisory Services LLC acquired a new position in OraSure Technologies during the 2nd quarter valued at about $47,000. Two Sigma Securities LLC acquired a new position in OraSure Technologies during the 2nd quarter valued at about $55,000. Finally, Headlands Technologies LLC acquired a new position in OraSure Technologies during the 2nd quarter valued at about $67,000. 93.50% of the stock is owned by institutional investors.

About OraSure Technologies

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.