Ocugen Inc. [NASDAQ: OCGN] plunged by -$0.39 during the normal trading session on Monday and reaching a high of $9.04 during the day while it closed the day at $8.53. The company report on March 18, 2021 that Ocugen Provides Business Update and Full Year 2020 Financial Results.
Conference Call and Webcast at 8:30 a.m. ET.
COVID-19 vaccine candidate, COVAXIN™, demonstrates efficacy of 81% in Phase 3 interim results.
Ocugen Inc. stock has also loss -13.84% of its value over the past 7 days. However, OCGN stock has inclined by 2749.98% in the 3 months of the year. Over the past six months meanwhile, it has gained 2296.07% and gained 366.12% year-on date.
The market cap for OCGN stock reached $1.60 billion, with 188.03 million shares outstanding and 164.98 million shares in the current float. Compared to the average trading volume of 94.14M shares, OCGN reached a trading volume of 13867576 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Ocugen Inc. [OCGN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OCGN shares is $9.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OCGN stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Chardan Capital Markets have made an estimate for Ocugen Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 09, 2021. The new note on the price target was released on February 04, 2021, representing the official price target for Ocugen Inc. stock.
The Average True Range (ATR) for Ocugen Inc. is set at 1.52, with the Price to Sales ratio for OCGN stock in the period of the last 12 months amounting to 37548.41. The Price to Book ratio for the last quarter was 85.30, with the Price to Cash per share for the same quarter was set at 0.10.
OCGN stock trade performance evaluation
Ocugen Inc. [OCGN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.84. With this latest performance, OCGN shares dropped by -16.94% in over the last four-week period, additionally plugging by 2296.07% over the last 6 months – not to mention a rise of 2687.58% 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 49.45, with the RSI for the last a single of trading hit 44.57, and the three-weeks RSI is set at 52.27 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 6.88, while it was recorded at 9.01 for the last single week of trading, and 2.08 for the last 200 days.
Ocugen Inc. [OCGN]: An insightful look at the core 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.
Earnings per share (EPS) analysis for Ocugen Inc. [OCGN] stock
With the latest financial reports released by the company, Ocugen Inc. posted -0.07/share EPS, while the average EPS was predicted by analysts to be reported at -0.05/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -40.00%. 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 Ownership positions
There are presently around $124 million, or 7.70% of OCGN stock, in the hands of institutional investors. The top three institutional holders of OCGN stocks are: VANGUARD GROUP INC with ownership of 9,074,993, which is approximately 22.016% of the company’s market cap and around 3.26% of the total institutional ownership; BLACKROCK INC., holding 2,225,674 shares of the stock with an approximate value of $18.98 million in OCGN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $10.38 million in OCGN stock with ownership of nearly 123.056% of the company’s market capitalization.
35 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 3,893,879 shares. Additionally, 8 investors decreased positions by around 3,188,940 shares, while 2 investors held positions by with 7,440,195 shares. The mentioned changes placed institutional holdings at 14,523,014 shares, according to the latest SEC report filing. OCGN stock had 28 new institutional investments in for a total of 1,340,539 shares, while 3 institutional investors sold positions of 42,048 shares during the same period.