As of Thursday close, Ocugen Inc.’s (NASDAQ:OCGN) stock traded at $0.40. The average number of shares traded per day over the past five days has been 2,932,360 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.0301 fall in that time frame. In the last twenty days, the average volume was 2,193,355, while in the previous 50 days, it was 3,578,322.
Since last month, OCGN stock retreated -0.79%. Shares of the company fell to $0.3900 on 09/19/23, the lowest level in the past month. A 52-week high of $2.11 was reached on 01/09/23 after having rallying from a 52-week low of $0.39. Since the beginning of this year, OCGN’s stock price has dropped by -69.23% or -$0.9000, and marked a new high 2 times. However, the stock has declined by -81.04% since its 52-week high.
OCGN stock investors should be aware that Ocugen Inc. (OCGN) stock had its last reported insider trading activity 100 days ago on Jun 14. Zhang Junge, the Director of the company, purchased of 200,278 shares for $0.50 on Jun 14. It resulted in a $99,999 investment by the insider. Musunuri Shankar sold 100,000 shares at an average price of $1.08 on Feb 16. The insider now owns 2,190,073 shares following the transaction. On Jan 17, Chief Executive Officer Musunuri Shankar sold 100,000 shares at $1.28 apiece. The transaction was valued at $128,000.
Financial Health
In the three months ended June 29, Ocugen Inc.’s quick ratio stood at 5.50, while its current ratio was 5.50, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.02, and the total debt-to-equity ratio was 0.04. Based on annual data, OCGN earned $84.87 million in gross profit.
In Ocugen Inc.’s quarter-end financial report for June 29, it reported total debt of $1.47 million. While analysts expected Ocugen Inc. to report -$0.07 quarterly earnings, the actual figure was -$0.1 per share, beating the consensus estimate by -42.90%. The liabilities of Ocugen Inc. were 18.7 million at the end of its most recent quarter ended June 29, and its total debt was $6.57 million. The value of shareholders’ equity is $256.49 million.
Technical Picture
This quick technical analysis looks at Ocugen Inc.’s (OCGN) price momentum. With a historical volatility rate of 39.28%, the RSI 9-day stood at 35.01% on 21 September.
With respect to its five-day moving average, the current Ocugen Inc. price is down by -7.00% percent or -$0.0301. At present, OCGN shares trade -15.09% below its 20-day simple moving average and -43.95% percent below its 100-day simple moving average. However, the stock is currently trading approximately -33.21% below its SMA50 and -75.16% below its SMA200.
Stochastic coefficient K was 13.57% and Stochastic coefficient D was 11.43%, while ATR was 0.0222. Given the Stochastic reading of 16.00% for the 14-day period, the RSI (14) reading has been calculated as 36.05%. As of today, the MACD Oscillator reading stands at -0.0136, while the 14-day reading stands at -0.0202.
Analyst Ratings
Chardan Capital Markets upgraded its rating on Ocugen Inc. (NASDAQ: OCGN) to a Buy in a note to investors on March 01, 2023. The analysts firm previously had a Neutral rating on the stock.Ocugen Inc. (OCGN) has been rated Buy by analysts. According to 0 brokerage firms, OCGN is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Ocugen Inc. stock as buy, with 4 recommending it as overweight.
With a median target price of $4.50, the current consensus forecast for the stock is $2.00 – $5.00. Based on these forecasts, analysts predict Ocugen Inc. (OCGN) will achieve an average price target of $4.00.
