Ocugen Inc. (NASDAQ:OCGN) has a beta value of 4.64 and has seen 7.5 million shares traded in the last trading session. The company, currently valued at $822.60M, closed the last trade at $4.06 per share which meant it lost -$0.07 on the day or -1.69% during that session. The OCGN stock price is -362.32% off its 52-week high price of $18.77 and 65.52% above the 52-week low of $1.40. If we look at the company’s 10-day average daily trading volume, we find that it stood at 11.9 million shares traded. The 3-month trading volume is 33.34 million shares.
The consensus among analysts is that Ocugen Inc. (OCGN) is an Overweight stock at the moment, with a recommendation rating of 2.50. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 2 out of 4 have rated it as a Hold, with 2 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.06.
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Sporting -1.69% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Friday, 01/07/22 when the OCGN stock price touched $4.06 or saw a rise of 17.14%. Year-to-date, Ocugen Inc. shares have moved -10.77%, while the 5-day performance has seen it change -10.77%. Over the past 30 days, the shares of Ocugen Inc. (NASDAQ:OCGN) have changed -32.67%. Short interest in the company has seen 54.3 million shares shorted with days to cover at 3.36.
Wall Street analysts have a consensus price target for the stock at $8.88, which means that the shares’ value could jump 54.28% from current levels. The projected low price target is $4.50 while the price target rests at a high of $15.00. In that case, then, we find that the current price level is -269.46% off the targeted high while a plunge would see the stock gain -10.84% from current levels.
Ocugen Inc. (OCGN) estimates and forecasts
Figures show that Ocugen Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -41.83% over the past 6 months, with this year growth rate of 6.45%, compared to 7.80% for the industry. Other than that, the company has, however, increased its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are -100.00% and 150.00% for the next quarter.
3 have an estimated revenue figure of $13.86 million for the next quarter concluding in Mar 2022.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 70.80% over the past 5 years.
Ocugen Inc. is expected to release its next earnings report between March 16 and March 21 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Ocugen Inc. (NASDAQ:OCGN)’s Major holders
Insiders own 2.44% of the company shares, while shares held by institutions stand at 29.91% with a share float percentage of 30.66%. Investors are also buoyed by the number of investors in a company, with Ocugen Inc. having a total of 175 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 12.91 million shares worth more than $92.66 million. As of Sep 29, 2021, Blackrock Inc. held 6.48% of shares outstanding.
The other major institutional holder is State Street Corporation, with the holding of over 11.32 million shares as of Sep 29, 2021. The firm’s total holdings are worth over $81.26 million and represent 5.68% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. As of Sep 29, 2021, the former fund manager holds about 3.85% shares in the company for having 7.67 million shares of worth $55.04 million while later fund manager owns 5.6 million shares of worth $40.21 million as of Sep 29, 2021, which makes it owner of about 2.81% of company’s outstanding stock.