The stock of Ocugen Inc. (NASDAQ:OCGN) decreased by -$0.01 on Tuesday to finish at $0.48, down -3.15 percent. The last five days have seen an average of 3,611,720 shares of common stock traded. 2 times new highs were reached in the current year, with a fall of -$0.8237. The average number of shares traded over the last 20 days was 4,379,310, while the average volume over the last 50 days totaled 6,436,268.
OCGN stock dropped -20.08% since last month. On 08/15/23, the company’s shares reached a one-month low of $0.4750. The stock touched a high of $2.93 on 01/09/23, after rallying from a low of $0.44 in 52 weeks. The price of OCGN stock has declined by -63.36% or -$0.8237 this year, reaching a new high 2 times. Still, the stock price is down -83.77% 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 63 days ago on Jun 14. On Jun 14, Director Zhang Junge acquired 200,278 shares at $0.50 each. This transaction resulted in the insider spending $99,999. On Feb 16, Musunuri Shankar sold 100,000 shares at a price of US$1.08. After the transaction, the insider now owns 2,190,073 shares. Chief Executive Officer Musunuri Shankar had earlier sold 100,000 shares on Jan 17 for $1.28 a share. The transaction was completed for $128,000.
Financial Health
For the recent quarter, Ocugen Inc.’s quick ratio was 5.40, while its current ratio was 5.40, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the recent quarter is 0.01, and the total debt to equity ratio is 0.03. Based on annual data, it had gross profit of $84.87 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. OCGN’s return on assets (ROA) during the last 12 months has been -70.80%. In the meantime, the return on equity (ROE) for the last 12 months was -86.50%.
Earnings Surprise
At the end of Ocugen Inc.’s most recent quarter, its liabilities totaled 20.5 million, while its total debt was $6.28 million. Equity owned by shareholders amounts to $226.43 million.
Technical Picture
Here’s a quick look at Ocugen Inc.’s (OCGN) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 23.36%, suggesting the stock is oversold, with a 31.72% historical volatility rate.
The stochastic %K and %D were 9.48% and 12.08% respectively, while the average true range (ATR) was 0.0304. Based on the 14-day stochastic reading of 0.90%, the RSI (14) reading is 31.19%. On the 9-day MACD Oscillator, the stock is at -0.0270, and the 14-day reading is at -0.0545.
Analyst Ratings
In its most recent analyst report, Chardan Capital Markets raised its rating on Ocugen Inc. (NASDAQ: OCGN) to a Buy. Prior to this, analysts firm rated the stock as a Neutral. Analysts have assigned Ocugen Inc. (OCGN) an Buy rating. OCGN is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 2 others recommend it as a buy.
What is OCGN’s price target for the next 12 months?
The current consensus forecast for the stock is between $2.50 and $4.00, with a median target price of $3.25. In analyzing these forecasts, the average price target given by analysts for Ocugen Inc. (OCGN) is $3.25.
