Ocugen Inc (NASDAQ:OCGN) saw an upside of 0.20% to $0.40 after subtracting $0.0 on Monday. The 5-day average trading volume is 1,549,027 shares of the company’s common stock. It has gained $0.4100 in the past week and touched a new high 1 time within the past 5 days. An average of 2,050,647 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,419,867.
OCGN’s 1-month performance is -14.12% or -$0.0558 on its low of $0.3900 reached on 09/19/23. The company’s shares have touched a 52-week low of $0.39 and high of $2.09, with the stock’s rally to the 52-week high happening on 01/09/23. YTD, OCGN has lost -69.17% or -$0.8988 and has reached a new high 2 times. However, the current price is down -80.81% from the 52-week high price.
Insider Transactions
OCGN stock investors last saw insider trading activity on Jun 14.Musunuri Shankar (Chief Executive Officer) most recently sold 100,000 shares at $1.08 per share on Feb 16. This transaction cost the insider $108,000. Chief Executive Officer, Musunuri Shankar, sold 100,000 shares at a price of $1.28 on Jan 17. Then, on Dec 16, Chief Executive Officer Musunuri Shankar sold 95,809 shares at a price of $1.43 per share. This transaction amounted to $137,007.
Valuation Metrics
OCGN stock has a beta of 3.89. Moving on to other valuation ratios, the price-to-book (PB) in the most recent quarter is 1.46.
Ocugen Inc’s quick ratio for the period ended June 29 was 5.46, with the current ratio over the same period at 5.46. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.07, while the total debt to equity was 0.09.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income grew 15.09% to -$22.93 million, while revenue of -$16.5 million was 28.04% off the previous quarter. Analysts expected OCGN to announce -$0.07 per share in earnings in its latest quarter, but it posted -$0.1, representing a -42.90% surprise. OCGN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 18.7 million, with total debt at $6.57 million. Shareholders hold equity totaling $256.49 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 22 September was 36.08% to suggest the stock is trending Neutral, with historical volatility in this time period at 38.36%.
The stock’s 5-day moving average is $0.3997, reflecting a +0.30% or $0.0012 change from its current price. OCGN is currently trading -12.21% above its 20-day SMA, -40.69% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -31.27% and SMA200 by-71.34%.
Stochastic %K and %D was 16.64% and 14.54% and the average true range (ATR) pointed at 0.0184. The RSI (14) points at 36.61%, while the 14-day stochastic is at 17.92% with the period’s ATR at 0.0217. The stock’s 9-day MACD Oscillator is pointing at -0.0081 and -0.0132 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Ocugen Inc (NASDAQ: OCGN), Chardan Capital Markets upgraded it to a Buy rating. They previously had a Neutral rating on the stock. 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 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 4 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 $2.00 and a high of $5.00, with their median price target at $4.50. Looking at these predictions, the average price target given by analysts is for Ocugen Inc (OCGN) stock is $4.00.
