In the latest trading session, 11.55 million Ocugen Inc. (NASDAQ:OCGN) shares changed hands as the company’s beta touched 4.52. With the company’s most recent per share price at $7.71 changed hands at -$0.57 or -6.88% at last look, the market valuation stands at $1.69B. OCGN’s current price is a discount, trading about -143.45% off its 52-week high of $18.77. The share price had its 52-week low at $0.25, which suggests the last value was 96.76% up since then. When we look at Ocugen Inc.’s average trading volume, we note the 10-day average is 19.69 million shares, with the 3-month average coming to 19.66 million.
Analysts gave the Ocugen Inc. (OCGN) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.60. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended OCGN as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. Ocugen Inc.’s EPS for the current quarter is expected to be -$0.04.
Ocugen Inc. (NASDAQ:OCGN) trade information
Instantly OCGN was in red as seen in intraday trades today. With action 11.44%, the performance over the past five days has been green. The drop to weekly highs of 8.75 on Monday, 09/13/21 subtracted -6.88% to the stock’s daily price. The company’s shares are showing year-to-date upside of 352.46%, with the 5-day performance at 11.44% in the green. However, in the 30-day time frame, Ocugen Inc. (NASDAQ:OCGN) is 3.89% up. Looking at the short shares, we see there were 42.98 million shares sold at short interest cover period of 0.54 days.
The consensus price target for the stock as assigned by Wall Street analysts is $7.90, meaning bulls need an upside of 2.41% from its recent market value. According to analyst projections, OCGN’s forecast low is $4.00 with $15.00 as the target high. To hit the forecast high, the stock’s price needs a -94.55% plunge from its current level, while the stock would need to tank 48.12% for it to hit the projected low.
Ocugen Inc. (OCGN) estimates and forecasts
Data shows that the Ocugen Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -16.36% over the past 6 months, a 19.35% in annual growth rate that is considerably higher than the industry average of 7.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Ocugen Inc. will rise 42.90%, while the growth in revenue is estimated to hit -100.00% for the next quarter.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 70.80%. The 2021 estimates are for Ocugen Inc. earnings to increase by 79.00%.
Ocugen Inc. is expected to release its next quarterly earnings report between November 04 and November 08.
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 12.62% 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 5.04 million 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.