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

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

OraSure Technologies Price Performance

Shares of OSUR stock traded up $0.06 during trading hours on Monday, reaching $3.97. The company had a trading volume of 639,550 shares, compared to its average volume of 889,338. OraSure Technologies has a 1-year low of $3.72 and a 1-year high of $8.45. The firm has a market cap of $296.14 million, a price-to-earnings ratio of 27.60 and a beta of 0.03. The company has a 50 day moving average of $4.03 and a 200 day moving average of $4.22.

OraSure Technologies (NASDAQ:OSUR - Get Free Report) last released its earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.06) earnings per share for the quarter, beating 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 return on equity of 3.55% and a net margin of 5.07%. The company's quarterly revenue was down 55.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. As a group, sell-side analysts forecast that OraSure Technologies will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On OraSure Technologies

Large investors have recently bought and sold shares of the company. Renaissance Technologies LLC grew its holdings in shares of OraSure Technologies by 20.6% in 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 during the period. 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 acquiring an additional 605,324 shares in the last quarter. Millennium Management LLC raised its position in shares of 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 worth $8,610,000 after purchasing an additional 1,776,867 shares during the period. American Century Companies Inc. lifted its holdings in shares of OraSure Technologies by 30.1% during the 2nd quarter. American Century Companies Inc. now owns 1,809,897 shares of the medical instruments supplier's stock valued at $7,710,000 after purchasing an additional 418,603 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of 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 purchasing an additional 32,929 shares during the period. Institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of OraSure Technologies from a "buy" rating to a "hold" rating in a research report on Monday, December 9th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.