Short Interest in OraSure Technologies, Inc. (NASDAQ:OSUR) Decreases By 20.6%

OraSure Technologies, Inc. (NASDAQ:OSUR) saw a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 1,080,000 shares, a decrease of 20.6% from the September 15th total of 1,360,000 shares. Based on an average daily volume of 678,100 shares, the short-interest ratio is presently 1.6 days.

Institutional Investors Weigh In On OraSure Technologies

A number of institutional investors have recently made changes to their positions in the company. Tocqueville Asset Management L.P. boosted its position in OraSure Technologies by 20.0% during the 1st quarter. Tocqueville Asset Management L.P. now owns 15,089 shares of the medical instruments supplier’s stock valued at $93,000 after purchasing an additional 2,512 shares during the period. AXA S.A. boosted its holdings in shares of OraSure Technologies by 2.5% during the second quarter. AXA S.A. now owns 161,614 shares of the medical instruments supplier’s stock valued at $688,000 after acquiring an additional 3,997 shares during the period. SG Americas Securities LLC grew its position in shares of OraSure Technologies by 46.4% during the second quarter. SG Americas Securities LLC now owns 17,125 shares of the medical instruments supplier’s stock worth $73,000 after acquiring an additional 5,431 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of OraSure Technologies by 12.9% during the first quarter. Lazard Asset Management LLC now owns 56,908 shares of the medical instruments supplier’s stock worth $349,000 after acquiring an additional 6,500 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in shares of OraSure Technologies by 2.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 341,125 shares of the medical instruments supplier’s stock worth $2,098,000 after acquiring an additional 8,523 shares during the period. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com raised OraSure Technologies from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. Evercore ISI lifted their price objective on OraSure Technologies from $4.50 to $5.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, OraSure Technologies currently has an average rating of “Moderate Buy” and an average price target of $6.67.

OraSure Technologies Stock Performance

Shares of NASDAQ:OSUR traded down $0.02 during mid-day trading on Tuesday, hitting $4.03. 497,317 shares of the company traded hands, compared to its average volume of 926,717. The firm’s 50 day simple moving average is $4.26 and its 200 day simple moving average is $4.63. The firm has a market cap of $298.05 million, a P/E ratio of 13.43 and a beta of 0.05. OraSure Technologies has a 52-week low of $3.91 and a 52-week high of $8.45.

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

OraSure Technologies Company Profile

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.