During trading yesterday, stocks of OraSure Technologies Inc. (NASDAQ:$OSUR) set a new 52-week high when it hit prices of $23.01. Shares that day opened at $22.90 and closed at $22.78, representing a change of 0.04%. The company currently boasts a market cap of $1.35 billion.
Setting a new high can reveal a lot about a stock to keen investors. More aggressive investors may see the new high as a sign of momentum and a strong entry point for the stock, whereas more bearish investors might see the new high as a peak before a downward trend.
The new 52-week high happened during a volume of 506,102. The stock has a float of 59.46 million shares with an average volume daily of $758,675. They have a 50 and a 200-day SMA of $20.74 and $14.71. They also have a P/E ratio of 42.2.
OraSure is a healthcare manufacturer based in Bethlehem, PA (named after the biblical town). Douglas A. Michels is the company’s CEO and he presides over 325 employees. They specialize in creating oral diagnostic tools to detect diseases and conditions like HIV or drug abuse. Their customer base includes clinics, schools, insurance companies, community centers and law enforcement.
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