Ocugen Inc. (NASDAQ:OCGN) saw an upside of 2.48% to close Monday at $1.24 after adding $0.03 on the day. The 5-day average trading volume is 5,306,060 shares of the company’s common stock. It has gained $1.3100 in the past week and touched a new high 1 time within the past 5 days. An average of 6,454,885 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 5,273,658.
OCGN’s 1-month performance is -6.06% or $0.0300 on its low of $1.0900 reached on 12/28/22. The company’s shares have touched a 52-week low of $1.09 and high of $4.53, with the stock’s rally to the 52-week high happening on 01/09/23. YTD, OCGN has lost -4.62% or -$0.0600 and has reached a new high 2 times. However, the current price is down -72.63% from the 52-week high price.
OCGN stock investors last saw insider trading activity on Jan 17.Musunuri Shankar (Chief Executive Officer) most recently sold 100,000 shares at $1.28 per share on Jan 17. This transaction cost the insider $128,000. Chief Executive Officer, Musunuri Shankar, sold 95,809 shares at a price of $1.43 on Dec 16. Then, on Oct 14, Chief Executive Officer Musunuri Shankar sold 100,000 shares at a price of $1.66 per share. This transaction amounted to $166,000.
OCGN stock has a beta of 3.96. Moving on to other valuation ratios, the price-to-book (PB) in the most recent quarter is 2.82.
Ocugen Inc.’s quick ratio for the period ended June 29 was 7.20, with the current ratio over the same period at 7.20.
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 50.91% to -$21.92 million, while revenue of -$19.47 million was 11.18% off the previous quarter. Analysts expected OCGN to announce -$0.08 per share in earnings in its latest quarter, but it posted -$0.09, representing a -12.50% surprise. EBITDA for the quarter stood at more than -$22.98 million. OCGN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 20.94 million, with total debt at $5.96 million. Shareholders hold equity totaling $218.89 million.
Let’s look briefly at Ocugen Inc. (OCGN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 46.76% to suggest the stock is trending Neutral, with historical volatility in this time period at 57.38%.
The stock’s 5-day moving average is $1.2160, reflecting a -4.62% or -$0.0600 change from its current price. OCGN is currently trading -2.36% above its 20-day SMA, -51.56% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -24.39% and SMA200 by-61.96%.
Stochastic %K and %D was 16.20% and 18.79% and the average true range (ATR) pointed at 0.0938. The RSI (14) points at 45.32%, while the 14-day stochastic is at 24.39% with the period’s ATR at 0.1002. The stock’s 9-day MACD Oscillator is pointing at -0.0478 and -0.0595 on the 14-day charts.
In the most recent analyst report for Ocugen Inc. (NASDAQ: OCGN), Mizuho launched coverage with a Buy rating. Analysts offering their rating for OCGN stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate OCGN as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 5 have offered a “buy” rating.
What is OCGN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $3.50 and a high of $8.00, with their median price target at $5.00. Looking at these predictions, the average price target given by analysts is for Ocugen Inc. (OCGN) stock is $5.33.