OraSure Technologies, Inc. (NASDAQ:OSUR) Short Interest Down 33.3% in September

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Millennium Management LLC grew its holdings in OraSure Technologies by 727.5% during the second quarter. Millennium Management LLC now owns 2,021,126 shares of the medical instruments supplier’s stock valued at $8,610,000 after purchasing an additional 1,776,867 shares during the period. Cannell Capital LLC lifted its stake in OraSure Technologies by 25.8% in the 4th quarter. Cannell Capital LLC now owns 3,549,050 shares of the medical instruments supplier’s stock worth $29,102,000 after purchasing an additional 728,459 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of OraSure Technologies by 38.1% in the second quarter. Acadian Asset Management LLC now owns 2,195,582 shares of the medical instruments supplier’s stock worth $9,349,000 after purchasing an additional 605,324 shares during the last quarter. American Century Companies Inc. lifted its position in shares of OraSure Technologies by 30.1% in the second quarter. American Century Companies Inc. now owns 1,809,897 shares of the medical instruments supplier’s stock worth $7,710,000 after buying an additional 418,603 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in OraSure Technologies by 20.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,288,443 shares of the medical instruments supplier’s stock valued at $9,749,000 after buying an additional 391,100 shares in the last quarter. Institutional investors own 93.50% of the company’s stock.

OraSure Technologies Stock Performance

Shares of NASDAQ:OSUR opened at $4.21 on Thursday. The firm has a market cap of $313.94 million, a price-to-earnings ratio of 14.03 and a beta of 0.05. The business has a 50-day simple moving average of $4.32 and a two-hundred day simple moving average of $4.88. OraSure Technologies has a fifty-two week low of $3.91 and a fifty-two week high of $8.45.

OraSure Technologies (NASDAQ:OSUR) last issued its earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.03 earnings per share (EPS) for the quarter. The company had revenue of $54.34 million for 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%. As a group, research analysts predict that OraSure Technologies will post -0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on OSUR. StockNews.com downgraded shares of OraSure Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 17th. Evercore ISI boosted their price objective on shares of OraSure Technologies from $4.50 to $5.00 and gave the stock an “in-line” rating in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, OraSure Technologies has a consensus rating of “Hold” and an average 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.