OraSure Technologies (NASDAQ:OSUR) Share Price Breaks Below Two Hundred Day Moving Average – Here’s Why

OraSure Technologies, Inc. (NASDAQ:OSUR) shares crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $3.52 and traded as low as $3.46. OraSure Technologies shares last traded at $3.45, with a volume of 861,615 shares trading hands.

Analyst Ratings Changes

A number of research firms have recently issued reports on OSUR. Craig Hallum upgraded OraSure Technologies to a “strong-buy” rating in a research note on Friday, October 23rd. Zacks Research raised OraSure Technologies to a “hold” rating in a report on Friday, October 2nd. Wall Street Zen upgraded OraSure Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of OraSure Technologies in a report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, OraSure Technologies currently has an average rating of “Hold” and a consensus target price of $3.00.

OraSure Technologies Trading Down 12.4%

The business’s 50 day moving average is $3.75 and its two-hundred day moving average is $3.52. The company has a market cap of $237.95 million, a PE ratio of -5.00 and a beta of 1.03.

Institutional Investors Weigh In On OraSure Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Altai Capital Management L.P. purchased a new position in shares of OraSure Technologies in the second quarter valued at about $16,118,000. BlackRock Inc. bought a new position in shares of OraSure Technologies in the second quarter worth about $27,905,000. Cannell Capital LLC bought a new position in shares of OraSure Technologies in the second quarter worth about $6,366,289. Yorkville Advisors Global LP purchased a new stake in shares of OraSure Technologies during the first quarter worth about $1,905,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of OraSure Technologies during the second quarter worth about $926,000. 93.50% of the stock is owned by institutional investors.

About OraSure Technologies

OraSure Technologies, Inc develops, manufactures and markets diagnostic products and specimen-collection technologies used by healthcare providers, laboratories, researchers and consumers. The company focuses on making testing more accessible through products that support decentralized, point-of-care and at-home testing, as well as laboratory-based molecular and diagnostic workflows.

Its portfolio has included the OraQuick line of rapid diagnostic tests, including oral-fluid tests for HIV and hepatitis C, along with other infectious-disease testing products.