Ocugen Inc. [NASDAQ: OCGN] gained 6.32% on the last trading session, reaching $8.75 price per share at the time. 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).
Ocugen Inc. represents 186.30 million in outstanding shares, while the company has a total market value of $1.63 billion with the latest information. OCGN stock price has been found in the range of $8.01 to $8.80.
If compared to the average trading volume of 64.82M shares, OCGN reached a trading volume of 41788432 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 1.75, with the Price to Sales ratio for OCGN stock in the period of the last 12 months amounting to 38278.68. The Price to Book ratio for the last quarter was 35.00, with the Price to Cash per share for the same quarter was set at 0.24.
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 -4.74. With this latest performance, OCGN shares gained by 42.28% in over the last four-week period, additionally plugging by 2841.18% over the last 6 months – not to mention a rise of 2804.08% 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 47.27, with the RSI for the last a single of trading hit 43.97, and the three-weeks RSI is set at 49.16 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 8.62, while it was recorded at 9.13 for the last single week of trading, and 3.63 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 12.00 and a Current Ratio set at 12.00.
Ocugen Inc. [OCGN]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Ocugen Inc. posted -0.19/share EPS, while the average EPS was predicted by analysts to be reported at -0.03/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -533.30%. 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 $139 million, or 8.60% of OCGN stock, in the hands of institutional investors. The top three institutional holders of OCGN stocks are: VANGUARD GROUP INC with ownership of 8,104,527, which is approximately -10.694% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 3,422,471 shares of the stock with an approximate value of $29.95 million in OCGN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $14.31 million in OCGN stock with ownership of nearly 34.426% of the company’s market capitalization.
50 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 3,653,471 shares. Additionally, 19 investors decreased positions by around 1,674,939 shares, while 3 investors held positions by with 10,548,664 shares. The mentioned changes placed institutional holdings at 15,877,074 shares, according to the latest SEC report filing. OCGN stock had 39 new institutional investments in for a total of 1,782,345 shares, while 11 institutional investors sold positions of 459,708 shares during the same period.