Short Interest in OraSure Technologies, Inc. (NASDAQ:OSUR) Rises By 17.3%

OraSure Technologies, Inc. (NASDAQ:OSUR) was the recipient of a large growth in short interest in November. As of November 30th, there was short interest totalling 1,290,000 shares, a growth of 17.3% from the November 15th total of 1,100,000 shares. Based on an average daily trading volume, of 658,300 shares, the days-to-cover ratio is currently 2.0 days.

OraSure Technologies Trading Up 1.5 %

Shares of OraSure Technologies stock traded up $0.06 on Monday, reaching $3.97. 639,550 shares of the company were exchanged, compared to its average volume of 889,338. The company has a market capitalization of $296.14 million, a price-to-earnings ratio of 27.60 and a beta of 0.03. OraSure Technologies has a one year low of $3.72 and a one year high of $8.45. The company has a 50-day moving average of $4.03 and a 200 day moving average of $4.22.

OraSure Technologies (NASDAQ:OSUR) last posted its quarterly earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. The firm had revenue of $39.92 million for the quarter, compared to analyst estimates of $38.97 million. OraSure Technologies had a net margin of 5.07% and a return on equity of 3.55%. During the same period in the prior year, the firm posted $0.27 earnings per share. The company’s quarterly revenue was down 55.2% compared to the same quarter last year. Analysts predict that OraSure Technologies will post -0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut OraSure Technologies from a “buy” rating to a “hold” rating in a report on Monday, December 9th.

Institutional Investors Weigh In On OraSure Technologies

Several hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. raised its stake in OraSure Technologies by 28.5% in the third quarter. Franklin Resources Inc. now owns 269,269 shares of the medical instruments supplier’s stock valued at $1,091,000 after buying an additional 59,723 shares during the period. Barclays PLC increased its holdings in shares of OraSure Technologies by 182.6% during the 3rd quarter. Barclays PLC now owns 195,793 shares of the medical instruments supplier’s stock worth $836,000 after acquiring an additional 126,503 shares during the last quarter. Geode Capital Management LLC raised its stake in OraSure Technologies by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,797,814 shares of the medical instruments supplier’s stock valued at $7,678,000 after acquiring an additional 32,929 shares during the period. Jane Street Group LLC lifted its holdings in OraSure Technologies by 6.4% during the 3rd quarter. Jane Street Group LLC now owns 296,194 shares of the medical instruments supplier’s stock valued at $1,265,000 after purchasing an additional 17,758 shares during the last quarter. Finally, Virtus Investment Advisers Inc. bought a new position in OraSure Technologies during the third quarter worth $392,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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.