Ocugen Inc. [NASDAQ: OCGN] price plunged by -6.90 percent to reach at -$0.54. The company report on July 6, 2021 that LAWSUITS FILED AGAINST UI, OCGN and RKT – JAKUBOWITZ LAW PURSUES SHAREHOLDERS CLAIMS.
Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.
Ubiquiti Inc. (NYSE:UI).
A sum of 21061146 shares traded at recent session while its average daily volume was at 68.25M shares. Ocugen Inc. shares reached a high of $7.75 and dropped to a low of $7.02 until finishing in the latest session at $7.29.
The one-year OCGN stock forecast points to a potential downside of -35.5. The average equity rating for OCGN stock is currently 2.70, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $5.38 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 2.70. 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.
ROTH Capital have made an estimate for Ocugen Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 11, 2021. The new note on the price target was released on May 07, 2021, representing the official price target for Ocugen Inc. stock. Previously, the target price had yet another raise from $0.70 to $13, while Chardan Capital Markets kept a Neutral rating on OCGN stock.
The Average True Range (ATR) for Ocugen Inc. is set at 0.83, with the Price to Sales ratio for OCGN stock in the period of the last 12 months amounting to 36417.50. The Price to Book ratio for the last quarter was 29.16, with the Price to Cash per share for the same quarter was set at 0.21.
OCGN Stock Performance Analysis:
Ocugen Inc. [OCGN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.69. With this latest performance, OCGN shares dropped by -18.00% in over the last four-week period, additionally plugging by 298.36% over the last 6 months – not to mention a rise of 3195.66% 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 44.04, with the RSI for the last a single of trading hit 41.13, and the three-weeks RSI is set at 45.70 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 8.94, while it was recorded at 8.05 for the last single week of trading, and 4.93 for the last 200 days.
Insight into Ocugen Inc. Fundamentals:
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] Insider Position Details
There are presently around $180 million, or 12.50% 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; STATE STREET CORP, holding 5,033,935 shares of the stock with an approximate value of $36.7 million in OCGN stocks shares; and BLACKROCK INC., currently with $24.95 million in OCGN stock with ownership of nearly 53.772% of the company’s market capitalization.
64 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 12,213,926 shares. Additionally, 24 investors decreased positions by around 2,254,275 shares, while 3 investors held positions by with 10,222,149 shares. The mentioned changes placed institutional holdings at 24,690,350 shares, according to the latest SEC report filing. OCGN stock had 49 new institutional investments in for a total of 3,598,843 shares, while 12 institutional investors sold positions of 522,730 shares during the same period.