The $1.91 Is The Price At Which Ocugen Inc. (NASDAQ: OCGN) Deserves Consideration – Marketing Sentinel
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The $1.91 Is The Price At Which Ocugen Inc. (NASDAQ: OCGN) Deserves Consideration

During the last session, Ocugen Inc. (NASDAQ:OCGN)’s traded shares were 10.04 million, with the beta value of the company hitting 4.63. At the end of the trading day, the stock’s price was $1.91, reflecting an intraday gain of 4.37% or $0.08. The 52-week high for the OCGN share is $17.65, that puts it down -824.08 from that peak though still a striking 4.71% gain since the share price plummeted to a 52-week low of $1.82. The company’s market capitalization is $434.79M, and the average intraday trading volume over the past 10 days was 7.2 million shares, and the average trade volume was 10.98 million shares over the past three months.

Ocugen Inc. (OCGN) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.50. OCGN has a Sell rating from 0 analyst(s) out of 4 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.06.

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Ocugen Inc. (NASDAQ:OCGN) trade information

Ocugen Inc. (OCGN) registered a 4.37% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 4.37% in intraday trading to $1.91 this Thursday, 05/12/22, hitting a weekly high. The stock’s 5-day price performance is -16.23%, and it has moved by -31.54% in 30 days. Based on these gigs, the overall price performance for the year is -76.79%. The short interest in Ocugen Inc. (NASDAQ:OCGN) is 54.3 million shares and it means that shorts have 3.36 day(s) to cover.

The consensus price target of analysts on Wall Street is $7.38, which implies an increase of 74.12% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $3.50 and $15.00 respectively. As a result, OCGN is trading at a discount of -685.34% off the target high and -83.25% off the low.

Ocugen Inc. (OCGN) estimates and forecasts

Statistics show that Ocugen Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Ocugen Inc. (OCGN) shares have gone down -77.61% during the last six months, with a year-to-date growth rate more than the industry average at 103.33% against -0.10. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -100.00% this quarter and then jump 150.00% in the quarter after that.

Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $13.86 million by the end of Mar 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 65.20%. While earnings are projected to return 2.30% in 2022.

OCGN Dividends

Ocugen Inc. is due to release its next quarterly earnings between March 16 and March 21. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Ocugen Inc. (NASDAQ:OCGN)’s Major holders

Ocugen Inc. insiders own 2.44% of total outstanding shares while institutional holders control 29.91%, with the float percentage being 30.66%. Blackrock Inc. is the largest shareholder of the company, while 175 institutions own stock in it. As of Sep 29, 2021, the company held over 12.91 million shares (or 6.48% of all shares), a total value of $92.66 million in shares.

The next largest institutional holding, with 11.32 million shares, is of State Street Corporation’s that is approximately 5.68% of outstanding shares. At the market price on Sep 29, 2021, these shares were valued at $81.26 million.

Also, the Mutual Funds coming in first place with the largest holdings of Ocugen Inc. (OCGN) shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. Data provided on Sep 29, 2021 indicates that SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF owns about 7.67 million shares. This amounts to just over 3.85 percent of the company’s overall shares, with a $55.04 million market value. The same data shows that the other fund manager holds slightly less at 5.6 million, or about 2.81% of the stock, which is worth about $40.21 million.

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