Ocugen Inc. [NASDAQ: OCGN] loss -4.12% or -0.39 points to close at $9.19 with a heavy trading volume of 176710608 shares. The company report on May 7, 2021 that Ocugen Provides Business Update and First Quarter 2021 Financial Results.
Conference Call and Webcast at 8:30 a.m. ET.
COVAXIN demonstrates 100% efficacy against severe COVID-19 disease (including hospitalization).
It opened the trading session at $8.035, the shares rose to $9.86 and dropped to $7.61, the range by which the price of stock traded the whole day. The daily chart for OCGN points out that the company has recorded 3136.43% gains over the past six months. However, it is still -5305.88% lower than its most recent low trading price.
If we look at the average trading volume of 74.97M shares, OCGN reached to a volume of 176710608 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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.
Cantor Fitzgerald have made an estimate for Ocugen Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 07, 2021. While these analysts kept the previous recommendation, Chardan Capital Markets raised their target price from $0.70 to $13. The new note on the price target was released on February 09, 2021, representing the official price target for Ocugen Inc. stock. Previously, the target price had yet another raise to $4.50, while H.C. Wainwright analysts kept a Buy rating on OCGN stock.
The Average True Range (ATR) for Ocugen Inc. is set at 1.85, with the Price to Sales ratio for OCGN stock in the period of the last 12 months amounting to 40313.14. The Price to Book ratio for the last quarter was 70.65, with the Price to Cash per share for the same quarter was set at 0.13.
Trading performance analysis for OCGN stock
Ocugen Inc. [OCGN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -27.51. With this latest performance, OCGN shares gained by 32.92% in over the last four-week period, additionally plugging by 3136.43% over the last 6 months – not to mention a rise of 2683.33% 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 48.68, with the RSI for the last a single of trading hit 44.77, and the three-weeks RSI is set at 50.57 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 8.71, while it was recorded at 11.57 for the last single week of trading, and 3.42 for the last 200 days.
Ocugen Inc. [OCGN]: A deeper dive into fundamental analysis
Ocugen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.20 and a Current Ratio set at 7.20.
Ocugen Inc. [OCGN]: An earnings per share (EPS) analysis
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.
An analysis of insider ownership at Ocugen Inc. [OCGN]
There are presently around $151 million, or 7.60% 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 2.54% of the total institutional ownership; BLACKROCK INC., holding 3,422,471 shares of the stock with an approximate value of $32.79 million in OCGN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $11.65 million in OCGN stock with ownership of nearly 123.056% of the company’s market capitalization.
43 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 5,112,785 shares. Additionally, 13 investors decreased positions by around 431,849 shares, while 4 investors held positions by with 10,220,907 shares. The mentioned changes placed institutional holdings at 15,765,541 shares, according to the latest SEC report filing. OCGN stock had 33 new institutional investments in for a total of 1,363,262 shares, while 7 institutional investors sold positions of 75,173 shares during the same period.