What just happened? OraSure Technologies, Inc. (NASDAQ:OSUR) stock value has plummeted by nearly -4.07% or (-0.36 points) to $8.6 from its previous close of $8.96. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 208190 contracts so far this session. OSUR shares had a relatively better volume day versus average trading capacity of 681.76 thousand shares, but with a 60.46 million float and a -0.11% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for OSUR stock indicates that the average analyst price target is $11.33 per share. This means the stock has a potential increase of 31.74% from where the OSUR share price has been trading recently which is between $8.82 and $9.07. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $10.
The shorts are climbing into OraSure Technologies, Inc. (OSUR) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in OSUR shares. While short interest still represents only 2.89% of OSUR’s float, the number of shares shorted have risen by 324230. The number of shares shorted advanced to 2073667 shares, up from 1749437 shares during the preceding fortnight. With average daily trading volumes at 1477494 shares, days to cover decreased to about 4.97818 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Read This Before You Buy OraSure Technologies, Inc. (NASDAQ:OSUR) Because Of Its P/E Ratio” and dated May 17, 2019.
During the recent trading session for OraSure Technologies, Inc. (NASDAQ:OSUR), the company witnessed their stock drop by $-0.56 over a week and tumble down $-0.98 from the price 20 days ago. When compared to their established 52-week high of $17.97, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/15/18. The recent low of $8.27 stood for a -52.17% since 05/09/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.19 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for OraSure Technologies, Inc., the two-week RSI stands at 33.68. This figure suggests that OSUR stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current OSUR readings is similarly very revealing as it has a stochastic reading of 29.9% at this stage. This figure means that OSUR share price today is being overbought.
Technical chart claims that OraSure Technologies, Inc. (OSUR) would settle between $9.08/share to $9.2/share level. However, if the stock price goes below the $8.83 mark, then the market for OraSure Technologies, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $8.7 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.23. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Raymond James, assumed coverage of OSUR assigning Mkt Perform rating, according to their opinion released on October 23. Stephens analysts have lowered their rating of OraSure Technologies, Inc. (NASDAQ:OSUR) stock from Overweight to Equal-Weight in a separate flash note issued to investors on July 16. Analysts at Jefferies lowered the stock to a Hold call from its previous Buy recommendation, in a research note that dated back to November 02.
OSUR equity has an average rating of 3, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 4 rated the stock as a hold while the remaining 0 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 0 analysts rated OraSure Technologies, Inc. (NASDAQ:OSUR) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, OSUR stock price is currently trading at 27.74X forward 12-month Consensus EPS estimates, and its P/S ratio is 3.25 while for the average stock in the same group, the multiple is 6.12. OraSure Technologies, Inc. current P/E ratio of 15.16 means it is trading at a discount against its industry’s 31.9. In the past 5 years, this ratio for the stock has been fluctuating between 19.16 and 44.82.
OraSure Technologies, Inc. (OSUR)’s current-quarter revenues are projected to climb by nearly -4.38% to hit $41.72 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -4.7% from $181740 to a noteworthy $173210. At the other end of the current quarter income statement, OraSure Technologies, Inc. is expected to see its adjusted earnings surge by roughly -57.14% to hit $0.03 per share. For the fiscal year, OSUR’s earnings are projected to climb by roughly -60% to hit $0.2 per share.