In the last trading session, 15,183,879 Ocugen, Inc. (NASDAQ:OCGN) shares changed hands as the company’s beta touched 4.51. With the company’s per share price at $6.98 changed hands at -$0.29 or -0.04% during last session, the market valuation stood at $1.38 Billion. OCGN’s last price was a discount, traded about -168.91% off its 52-week high of $18.77. The share price had its 52-week low at $0.19, which suggests the last value was 97.28% up since then. When we look at Ocugen, Inc.’s average trading volume, we note the 10-day average is 22.26 Million shares, with the 3-month average coming to 69.13 Million.
Analysts gave the Ocugen, Inc. (OCGN) stock a consensus recommendation rating of Hold, calculated at a mean rating of 2.7. If we narrow down to specifics, the data shows that none out of 4 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, 3 recommended OCGN as a Hold, 1 felt it is a Buy and none rated the stock as Underweight. Ocugen, Inc.’s EPS for the current quarter is expected to be -$0.03.
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Although OCGN has turned red as seen at the end of in last trading. With action -3.99%, the performance over the past five days has been red. The jump to weekly highs of $8.29- on Tuesday, Jul 06 added 15.8% to the stock’s daily price. The company’s shares are showing year-to-date upside of 2.81%, with the 5-day performance at -0.04% in the red. However, in the 30-day time frame, Ocugen, Inc. (NASDAQ:OCGN) is 0.1% up. Looking at the short shares, we see there were 49.31 Million shares sold at short interest cover period of 0.71 days.
The consensus price target for the stock as assigned by Wall Street analysts is $6.13, meaning bulls need a downside of -12.18% from its current market value. According to analyst projections, OCGN’s forecast low is $4 with $10 as the target high. To hit the forecast high, the stock’s price needs a +43.27% upsurge from its current level, while the stock would need to tank -42.69% for it to hit the projected low.
Ocugen, Inc. (OCGN) estimates and forecasts
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 70.8%. The 2021 estimates are for Ocugen, Inc. earnings to increase by 79%, but the outlook for the next 5-year period is at 0% per year.
Ocugen, Inc. (NASDAQ:OCGN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 2.49% of Ocugen, Inc. shares while 12.62% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 12.94%. There are 99 institutions holding the Ocugen, Inc. stock share, with Vanguard Group, Inc. (The) the top institutional holder. As of Mar 30, 2021, the company held 4.09% of the shares, roughly 8.1 Million OCGN shares worth $55.03 Million.
State Street Corporation holds the second largest percentage of outstanding shares, with 2.54% or 5.03 Million shares worth $34.18 Million as of Mar 30, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were Vanguard Total Stock Market Index Fund and SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF. With 5040554 shares estimated at $34.23 Million under it, the former controlled 2.54% of total outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF held about 2.53% of the shares, roughly 5.01 Million shares worth around $43.72 Million.