OraSure Technologies, Inc. (NASDAQ:OSUR) Sees Large Increase in Short Interest

OraSure Technologies, Inc. (NASDAQ:OSUR) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,910,000 shares, an increase of 17.2% from the January 15th total of 1,630,000 shares. Based on an average daily volume of 879,000 shares, the short-interest ratio is presently 2.2 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its stake in shares of OraSure Technologies by 23.1% during the 4th quarter. Renaissance Technologies LLC now owns 2,774,443 shares of the medical instruments supplier’s stock worth $10,016,000 after buying an additional 521,400 shares during the last quarter. Archon Capital Management LLC raised its holdings in OraSure Technologies by 145.1% during the fourth quarter. Archon Capital Management LLC now owns 827,777 shares of the medical instruments supplier’s stock worth $2,988,000 after acquiring an additional 490,034 shares in the last quarter. Peapod Lane Capital LLC acquired a new position in OraSure Technologies during the fourth quarter valued at approximately $1,730,000. American Century Companies Inc. boosted its position in OraSure Technologies by 11.4% during the fourth quarter. American Century Companies Inc. now owns 2,345,837 shares of the medical instruments supplier’s stock valued at $8,468,000 after purchasing an additional 240,224 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of OraSure Technologies by 66.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 524,950 shares of the medical instruments supplier’s stock valued at $2,242,000 after buying an additional 209,580 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

OraSure Technologies Price Performance

Shares of OSUR traded up $0.04 during mid-day trading on Monday, hitting $3.93. 356,731 shares of the company’s stock were exchanged, compared to its average volume of 831,436. OraSure Technologies has a 52 week low of $3.52 and a 52 week high of $8.04. The company has a market cap of $293.14 million, a PE ratio of 26.20 and a beta of 0.05. The company has a 50-day simple moving average of $3.81 and a 200 day simple moving average of $4.04.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded OraSure Technologies from a “buy” rating to a “hold” rating in a research note on Thursday.

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.