Ocugen Inc. [OCGN] stock Downgrade by ROTH Capital analyst, price target now $6

Ocugen Inc. [NASDAQ: OCGN] traded at a high on 07/16/21, posting a 4.72 gain after which it closed the day’ session at $6.66. The company report on July 18, 2021 that The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of UI, OCGN and DIDI.

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The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.

Ubiquiti Inc. (NYSE:UI)Class Period: January 11, 2021 – March 20, 2021Lead Plaintiff Deadline: July 19, 2021.

The results of the trading session contributed to over 18801001 shares changing hands. Over the past one week, the price volatility of Ocugen Inc. stands at 7.90% while the volatility over the past one month is 8.87%.

The market cap for OCGN stock reached $1.26 billion, with 198.23 million shares outstanding and 192.50 million shares in the current float. Compared to the average trading volume of 68.20M shares, OCGN reached a trading volume of 18801001 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $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 0.73, with the Price to Sales ratio for OCGN stock in the period of the last 12 months amounting to 29579.34. The Price to Book ratio for the last quarter was 26.64, with the Price to Cash per share for the same quarter was set at 0.24.

How has OCGN stock performed recently?

Ocugen Inc. [OCGN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.39. With this latest performance, OCGN shares gained by 2.30% in over the last four-week period, additionally plugging by 205.50% over the last 6 months – not to mention a rise of 3083.56% 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 41.44, with the RSI for the last a single of trading hit 38.96, and the three-weeks RSI is set at 43.56 for Ocugen Inc. [OCGN]. The present Moving Average for the last 50 days of trading for this stock 8.04, while it was recorded at 6.63 for the last single week of trading, and 5.23 for the last 200 days.

Ocugen Inc. [OCGN]: Deeper insight into the 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.

Insider trade positions for Ocugen Inc. [OCGN]

There are presently around $165 million, or 12.80% 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 $33.53 million in OCGN stocks shares; and BLACKROCK INC., currently with $22.79 million in OCGN stock with ownership of nearly 53.772% of the company’s market capitalization.

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64 institutional holders increased their position in Ocugen Inc. [NASDAQ:OCGN] by around 12,251,706 shares. Additionally, 23 investors decreased positions by around 2,253,424 shares, while 4 investors held positions by with 10,222,800 shares. The mentioned changes placed institutional holdings at 24,727,930 shares, according to the latest SEC report filing. OCGN stock had 50 new institutional investments in for a total of 3,636,998 shares, while 11 institutional investors sold positions of 522,204 shares during the same period.

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