The stock of OraSure Technologies, Inc. (NASDAQ:OSUR) is now priced at $14.78 and the shares are 1.59 points up or 12.09% higher compared to its previous closing price of $13.19. The stock had 3.839 million contracts set over the past session. OSUR shares’ daily volume is compared to its average trading volume at 1.945 million shares. However, it has a float of 66.55 million and although its performance was 12.18% over the week, it’s one to watch. Analysts have given the OSUR stock a yearly average price target of $18 per share. It means the stock’s upside potential is 21.79% with the OSUR share price recently placing at $13.47 to $14.88. However, some brokerage firms have priced the stock below the average, including one that has called $15.
The shorts are running away from the OraSure Technologies, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the OSUR shares have declined. Short interest in the stock represents just 8.89% of its float, but the volume has dropped by -326335. The volume of shorted shares dropped to 5.914 million from 6.24 million shares over the last two weeks. The average intraday trading volume has been 1.177 million shares, which means that days to cover moved to roughly 5.023588.
In the last trading session, OraSure Technologies, Inc. (NASDAQ:OSUR) raised by $1.6 over the week and lost -$1.72 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $19.75. The stock recorded its established 52-week high on 08/05/20.
Since 03/13/20, the stock has traded to a low of $5.23 at 182.7%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.67. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, OraSure Technologies, Inc.’s two-week RSI is 52.16. This suggests that the stock is neutral at the moment and that OSUR shares’ price movement remains stable. The stochastic readings are equally revealing at 25.32% meaning the OSUR share price is currently in overbought territory.
The technical chart shows that the OSUR stock will likely settle at between $15.29 and $15.79 per share. However, if the stock dips below $13.88, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $12.97.
Currently, the stock is trading in the green of MACD, with a reading of 0.14. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned OSUR a rating of Outperform in their intiating review released on August 21. JP Morgan analysts see the stock as a Neutral with a target price of $18 in a flash note released to investors on August 10 initiating covering the stock. Citigroup analysts see the stock as Buy when the analysts initiated the share price coverage on August 10, placing it at $18.
The average rating for the OSUR equity is 2.75 and is currently gathering a bullish momentum. Of 6 analysts tracking OraSure Technologies, Inc. polled by Reuters, 3 rated OSUR as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the OSUR stock price is 37.53X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 81.8. OraSure Technologies, Inc. has its P/E ratio at 2.8, which means that the stock is currently trading at a discount relative to the 4.5 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for OraSure Technologies, Inc. (NASDAQ:OSUR) will decrease by about -99.86%, which will see them reach $41.7 million. The company’s full-year revenues are, however, expected to increase by about 6.91%, up from $155 million to $165 million. OSUR’s expected adjusted earnings should drop almost -133.33% to end up at -$0.07 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -203.7% to record -$0.28/share.