During the last session, Ocean Biomedical Inc. (NASDAQ:OCEA)’s traded shares were 4.81 million. At the end of the trading day, the stock’s price was $5.18, reflecting an intraday gain of 8.60% or $0.41. The 52-week high for the OCEA share is $26.60, that puts it down -413.51 from that peak though still a striking 40.93% gain since the share price plummeted to a 52-week low of $3.06. The company’s market capitalization is $178.71M, and the average intraday trading volume over the past 10 days was 5.36 million shares, and the average trade volume was 2.50 million shares over the past three months.
Ocean Biomedical Inc. (OCEA) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.00. OCEA has a Sell rating from 0 analyst(s) out of 1 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 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 -$0.17.
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Ocean Biomedical Inc. (NASDAQ:OCEA) trade information
Ocean Biomedical Inc. (OCEA) registered a 8.60% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 8.60% in intraday trading to $5.18 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is 0.58%, and it has moved by -19.94% in 30 days. The short interest in Ocean Biomedical Inc. (NASDAQ:OCEA) is 0.34 million shares and it means that shorts have 0.28 day(s) to cover.
The consensus price target of analysts on Wall Street is $17.00, which implies an increase of 69.53% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $17.00 and $17.00 respectively. As a result, OCEA is trading at a discount of -228.19% off the target high and -228.19% off the low.
While earnings are projected to return -69.90% in 2023.
Ocean Biomedical Inc. is due to release its next quarterly earnings in June. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Ocean Biomedical Inc. (NASDAQ:OCEA)’s Major holders
Ocean Biomedical Inc. insiders own 76.89% of total outstanding shares while institutional holders control 52.71%, with the float percentage being 228.07%. Polar Asset Management Partners Inc. is the largest shareholder of the company, while 46 institutions own stock in it. As of Mar 30, 2023, the company held over 3.27 million shares (or 9.68% of all shares), a total value of $21.75 million in shares.
The next largest institutional holding, with 1.89 million shares, is of Meteora Capital, LLC’s that is approximately 5.57% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $12.53 million.
Data provided on Feb 27, 2023 indicates that Fidelity NASDAQ Composite Index Fund owns about 2871.0 shares. This amounts to just over 0.01 percent of the company’s overall shares, with a $22968.0 market value.