Ocugen Inc. (NASDAQ:OCGN) finished Thursday with an addition of $0.01 to close at $0.50, an upside of 1.61 percent. An average of 4,620,200 shares of common stock have been traded in the last five days. There was a fall of -$0.0733 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 4,570,465 shares traded, while the 50-day average volume stands at 6,734,024.
OCGN stock has decreased by -16.78% in the last month. The company shares reached their 1-month lowest point of $0.4766 on 08/10/23. With the stock rallying to its 52-week high on 01/09/23, shares of the company touched a low of $0.44 and a high of $2.95 in 52 weeks. It has reached a new high 2 times so far this year and lost -61.66% or -$0.8016 in price. In spite of this, the price is down -83.11% from the 52-week high.
Insider Transactions
OCGN stock investors should be aware that Ocugen Inc. (OCGN) stock had its last reported insider trading activity 176 days ago on Jun 14. In this transaction, the insider spent $108,000. Chief Executive Officer, Musunuri Shankar, disposed of 100,000 shares at a price of $1.28 on Jan 17. The insider now owns more than $128,000 worth of shares. Prior to that, Chief Executive Officer Musunuri Shankar went on to Sale 95,809 shares at $1.43 each on Dec 16. An amount of $137,007 was transacted.
Valuation Metrics
Ocugen Inc. (OCGN) stock’s beta is 3.91. Other valuation ratios to consider include the price-to-book (PB) ratio at 1.47.
Financial Health
The quick ratio of Ocugen Inc. for the three months ended March 30 was 5.40, and the current ratio was 5.40, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.01 and a total debt to equity ratio of 0.03 for the quarter ending March 30. Its gross profit as reported stood at $84.87 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Ocugen Inc.’s return on assets was -70.80%.
Earnings Surprise
For the three-month period that ended March 30, Ocugen Inc. had $13.37 million in cash and short-term investments compared to $2.29 million in total debt. The company posted a net income of -$21.94 million in the quarter, while revenues of -$21.92 million were grew 1.28%. The analyst consensus anticipated Ocugen Inc.’s latest quarter earnings to come in at -$0.11 per share, but it turned out to be -$0.07, a 36.40% surprise. Shareholders own equity worth $226.43 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Ocugen Inc. (OCGN) price momentum. RSI 9-day as of the close on 10 August was 27.51%, suggesting the stock is oversold, with historical volatility in this time frame at 43.08%.
As of today, OCGN’s price is $0.5219 -12.82% or -$0.0733 from its 5-day moving average. OCGN is currently trading -15.84% lower than its 20-day SMA and -48.52% lower than its 100-day SMA. However, the stock’s current price level is +8.75% above the SMA50 and -71.02% below the SMA200.
The stochastic %K and %D were 9.87% and 11.77%, respectively, and the average true range (ATR) was 0.0342. With the 14-day stochastic at 15.20% and the average true range at 0.0341, the RSI (14) stands at 34.69%. The stock has reached -0.0491 on the 9-day MACD Oscillator while the 14-day reading was at -0.0568.
Analyst Ratings
Chardan Capital Markets upgraded Ocugen Inc. (NASDAQ: OCGN) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for Ocugen Inc. (OCGN) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell OCGN, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 6 others rate it as a “buy”.
What is OCGN’s price target for the next 12 months?
Analysts predict a range of price targets between $2.50 and $8.00, with a median target of $4.50. Taking a look at these predictions, the average price target given by analysts for Ocugen Inc. (OCGN) stock is $4.58.
