Ocugen Inc. [OCGN] Stock trading around $0.81 per share: What’s Next?

Ocugen Inc. [NASDAQ: OCGN] stock went on an upward path that rose over 173.88% on Tuesday, amounting to a one-week price increase of more than 171.02%. The company report on December 23, 2020 that Ocugen Inc. Announces Plan to Adjourn Annual Meeting of Stockholders, Modify Proposal Regarding Increase in Number of Authorized Shares.

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Annual Meeting to be adjourned solely with respect to Item 2, and Item 2 to be modified to decrease the proposed aggregate number of shares of common stock that the Company would be authorized to issue from 500,000,000 shares to 400,000,000 shares.

Ocugen, Inc. (NASDAQ: OCGN), a biopharmaceutical company focused on discovering, developing, and commercializing transformative therapies to cure blindness diseases, announced that it will convene its 2020 Annual Meeting of Stockholders on December 23, 2020 at 11:00 a.m. Eastern time and, after conducting all other business, intends to adjourn the meeting solely with respect to Item 2 set forth in its Definitive Proxy Statement filed with the Securities and Exchange Commission on October 30, 2020. Item 2 is a proposal to amend the Company’s Sixth Amended and Restated Certificate of Incorporation to increase the number of authorized shares of common stock. The Company is planning this adjournment to provide its stockholders additional time to vote on Item 2. The Annual Meeting will resume with respect to Item 2 at 11:00 a.m. Eastern time on January 13, 2021 and will continue to be held virtually.

Over the last 12 months, OCGN stock rose by 106.46%. The average equity rating for OCGN stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $132.83 million, with 162.03 million shares outstanding and 155.85 million shares in the current float. Compared to the average trading volume of 8.36M shares, OCGN stock reached a trading volume of 671541785 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Ocugen Inc. [OCGN]:

The Average True Range (ATR) for Ocugen Inc. is set at 0.05, with the Price to Sales ratio for OCGN stock in the period of the last 12 months amounting to 3116.70. The Price to Book ratio for the last quarter was 8.05, with the Price to Cash per share for the same quarter was set at 0.12.

OCGN Stock Performance Analysis:

Ocugen Inc. [OCGN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 171.02. With this latest performance, OCGN shares gained by 158.16% in over the last four-week period, additionally plugging by 225.99% over the last 6 months – not to mention a rise of 106.46% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OCGN stock in for the last two-week period is set at 91.28, with the RSI for the last a single of trading hit 94.86, and the three-weeks RSI is set at 86.99 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 0.3124, while it was recorded at 0.3984 for the last single week of trading, and 0.3314 for the last 200 days.

Insight into Ocugen Inc. Fundamentals:

Ocugen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.80 and a Current Ratio set at 4.80.

OCGN Stock EPS

With the latest financial reports released by the company, Ocugen Inc. posted 4.13/share EPS, while the average EPS was predicted by analysts to be reported at -0.14/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3,050.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OCGN.

Ocugen Inc. [OCGN] Insider Position Details

There are presently around $4 million, or 13.10% of OCGN stock, in the hands of institutional investors. The top three institutional holders of OCGN stocks are: VANGUARD GROUP INC with ownership of 7,437,567, which is approximately 2158.016% of the company’s market cap and around 3.26% of the total institutional ownership; BLACKROCK INC., holding 5,018,690 shares of the stock with an approximate value of $1.48 million in OCGN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.16 million in OCGN stock with ownership of nearly 171.877% of the company’s market capitalization.

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13 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 12,223,819 shares. Additionally, 8 investors decreased positions by around 959,286 shares, while 3 investors held positions by with 634,970 shares. The mentioned changes placed institutional holdings at 13,818,075 shares, according to the latest SEC report filing. OCGN stock had 4 new institutional investments in for a total of 107,348 shares, while 7 institutional investors sold positions of 860,448 shares during the same period.

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