OraSure Technologies, Inc. (NASDAQ:OSUR) Sees Large Decrease in Short Interest

OraSure Technologies, Inc. (NASDAQ:OSUR) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 1,360,000 shares, a decline of 33.3% from the August 31st total of 2,040,000 shares. Based on an average daily volume of 784,900 shares, the short-interest ratio is presently 1.7 days.

OraSure Technologies Stock Performance

Shares of OSUR opened at $4.21 on Thursday. The company has a 50 day moving average price of $4.32 and a 200-day moving average price of $4.88. OraSure Technologies has a fifty-two week low of $3.91 and a fifty-two week high of $8.45. The stock has a market capitalization of $313.94 million, a PE ratio of 14.03 and a beta of 0.05.

OraSure Technologies (NASDAQ:OSUR) last posted its earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.03 earnings per share for the quarter. OraSure Technologies had a return on equity of 9.15% and a net margin of 9.88%. The company had revenue of $54.34 million during the quarter, compared to analyst estimates of $53.35 million. Equities research analysts forecast that OraSure Technologies will post -0.11 EPS for the current year.

Institutional Trading of OraSure Technologies

Several hedge funds have recently modified their holdings of OSUR. Charles Schwab Investment Management Inc. raised its stake in shares of OraSure Technologies by 6.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 774,824 shares of the medical instruments supplier’s stock worth $6,354,000 after acquiring an additional 47,207 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of OraSure Technologies by 8.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,906,687 shares of the medical instruments supplier’s stock worth $32,035,000 after purchasing an additional 301,558 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in OraSure Technologies during the 4th quarter worth $113,000. Trexquant Investment LP increased its position in OraSure Technologies by 155.6% during the 4th quarter. Trexquant Investment LP now owns 165,201 shares of the medical instruments supplier’s stock valued at $1,355,000 after buying an additional 100,557 shares in the last quarter. Finally, Cannell Capital LLC raised its stake in OraSure Technologies by 25.8% in the fourth quarter. Cannell Capital LLC now owns 3,549,050 shares of the medical instruments supplier’s stock valued at $29,102,000 after buying an additional 728,459 shares during the last quarter. 93.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OSUR has been the topic of several analyst reports. StockNews.com downgraded shares of OraSure Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 17th. Evercore ISI upped their target price on OraSure Technologies from $4.50 to $5.00 and gave the company an “in-line” rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, OraSure Technologies has an average rating of “Hold” and a consensus target price of $6.67.

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.