OraSure Technologies, Inc. (NASDAQ:OSUR) Short Interest Down 50.0% in June

OraSure Technologies, Inc. (NASDAQ:OSUR) was the target of a significant decrease in short interest in June. As of June 30th, there was short interest totalling 2,220,000 shares, a decrease of 50.0% from the June 15th total of 4,440,000 shares. Currently, 3.1% of the company’s stock are sold short. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is currently 1.9 days.

Institutional Investors Weigh In On OraSure Technologies

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in OraSure Technologies by 1.2% during the third quarter. Vanguard Group Inc. now owns 5,396,285 shares of the medical instruments supplier’s stock worth $32,000,000 after buying an additional 64,367 shares in the last quarter. Diversified Trust Co raised its position in shares of OraSure Technologies by 17.7% in the fourth quarter. Diversified Trust Co now owns 16,031 shares of the medical instruments supplier’s stock worth $131,000 after acquiring an additional 2,406 shares during the period. Raymond James & Associates purchased a new stake in shares of OraSure Technologies during the 4th quarter worth about $133,000. Pacer Advisors Inc. grew its position in shares of OraSure Technologies by 122.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,403,333 shares of the medical instruments supplier’s stock valued at $19,707,000 after acquiring an additional 1,323,197 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new position in shares of OraSure Technologies in the 4th quarter valued at about $302,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on OraSure Technologies from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. StockNews.com lowered OraSure Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th. Finally, Evercore ISI decreased their price objective on shares of OraSure Technologies from $5.50 to $4.50 and set an “in-line” rating for the company in a research report on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, OraSure Technologies has a consensus rating of “Hold” and an average price target of $6.13.

OraSure Technologies Stock Performance

NASDAQ OSUR remained flat at $4.30 during trading hours on Friday. The company had a trading volume of 880,251 shares, compared to its average volume of 1,059,814. OraSure Technologies has a 52-week low of $3.91 and a 52-week high of $8.45. The company’s 50-day moving average is $4.62 and its two-hundred day moving average is $6.08. The stock has a market cap of $318.03 million, a PE ratio of 14.33 and a beta of 0.09.

OraSure Technologies (NASDAQ:OSUR) last posted its quarterly earnings results on Wednesday, May 8th. The medical instruments supplier reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $54.10 million for the quarter, compared to analyst estimates of $52.27 million. OraSure Technologies had a net margin of 7.50% and a return on equity of 7.68%. The firm’s revenue was down 65.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.37 earnings per share. On average, equities analysts forecast that OraSure Technologies will post -0.08 earnings per share for the current fiscal year.

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.