— Jeff Ward, Lehigh Valley News Briefs
OraSure Technologies shares dipped under $4 as the Bethlehem-based maker of diagnostic kits continues to meander along.
The closing price Friday was $3.85.
The company’s financial results earlier this month didn’t blow anybody away. Revenue has been falling hard since the Covid-19 pandemic, when OraSure received millions from the federal government.
“Our 3Q results were consistent with our expectations,” Chief Executive Officer Carrie Eglinton Manner said in when results were announced. That no doubt is true, but it’s not getting investors excited about a company that keeps seeing revenue fall.
At under $5 per share, OraSure now qualifies as a penny stock. What’s next? Who knows?
What is now OraSure was founded in 1987 in South Bethlehem as SolarCare Technologies, a maker of sunscreen towelettes. OraSure’s products include OraQuick, a home test for HIV, and InteliSwab, a test for Covid.
The shares (NASDAQ:OSUR) have traded as high as $8.45 and as low as $3.85 in the last 52 weeks.
Lehigh Valley News Briefs 