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Ocugen Inc. (NASDAQ:OCGN) Down Almost -17.52% In One Month, Looking Good For The Long Term

In last trading session, Ocugen Inc. (NASDAQ:OCGN) saw 5.15 million shares changing hands with its beta currently measuring 4.26. Company’s recent per share price level of $1.93 trading at -$0.15 or -7.21% at ring of the bell on the day assigns it a market valuation of $454.57M. That closing price of OCGN’s stock is at a discount of -814.51% from its 52-week high price of $17.65 and is indicating a premium of 13.47% from its 52-week low price of $1.67. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 5.34 million shares which gives us an average trading volume of 5.40 million if we extend that period to 3-months.

For Ocugen Inc. (OCGN), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 2.20. Splitting up the data highlights that, out of 6 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 1 suggested the stock as a Hold whereas 5 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.1 in the current quarter.

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Ocugen Inc. (NASDAQ:OCGN) trade information

Upright in the red during last session for losing -7.21%, in the last five days OCGN remained trading in the red while hitting it’s week-highest on Thursday, 09/15/22 when the stock touched $1.93 price level, adding 18.22% to its value on the day. Ocugen Inc.’s shares saw a change of -57.58% in year-to-date performance and have moved -16.09% in past 5-day. Ocugen Inc. (NASDAQ:OCGN) showed a performance of -17.52% in past 30-days. Number of shares sold short was 53.94 million shares which calculate 8.75 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $7.00 to the stock, which implies a rise of 72.43% to its current value. Analysts have been projecting $3.50 as a low price target for the stock while placing it at a high target of $15.00. It follows that stock’s current price would drop -677.2% in reaching the projected high whereas dropping to the targeted low would mean a loss of -81.35% for stock’s current value.

Ocugen Inc. (OCGN) estimates and forecasts

Statistics highlight that Ocugen Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -49.74% of value to its shares in past 6 months, showing an annual growth rate of -23.33% while that of industry is 1.70. Apart from that, the company came lowering its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to decrease by -100.00% in the current quarter and calculating -42.90% decrease in the next quarter.

And 6 analysts are in estimates of company making revenue of $2.35 million in the next quarter that will end on Dec 2022.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 65.20% during past 5 years.

OCGN Dividends

Ocugen Inc. is more likely to be releasing its next quarterly report between March 16 and March 21 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

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

Insiders are in possession of 1.59% of company’s total shares while institution are holding 39.64 percent of that, with stock having share float percentage of 40.28%. Investors also watch the number of corporate investors in a company very closely, which is 39.64% institutions for Ocugen Inc. that are currently holding shares of the company. State Street Corporation is the top institutional holder at OCGN for having 29.15 million shares of worth $96.21 million. And as of Mar 30, 2022, it was holding 13.52% of the company’s outstanding shares.

The second largest institutional holder is Blackrock Inc., which was holding about 12.16 million shares on Mar 30, 2022. The number of shares represents firm’s hold over 5.64% of outstanding shares, having a total worth of $40.14 million.

On the other hand, SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 25.99 million shares of worth $59.0 million or 12.05% of the total outstanding shares. The later fund manager was in possession of 6.16 million shares on Mar 30, 2022, making its stake of worth around $20.32 million in the company or a holder of 2.85% of company’s stock.

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