In the latest trading session, 0.96 million Ocugen Inc. (NASDAQ:OCGN) shares changed hands as the company’s beta touched 3.90. With the company’s most recent per share price at $0.40 changed hands at -$0.01 or -2.10% at last look, the market valuation stands at $108.03M. OCGN’s current price is a discount, trading about -480.0% off its 52-week high of $2.32. The share price had its 52-week low at $0.40. When we look at Ocugen Inc.’s average trading volume, we note the 10-day average is 2.03 million shares, with the 3-month average coming to 4.92 million.
Analysts gave the Ocugen Inc. (OCGN) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 4 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended OCGN as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. Ocugen Inc.’s EPS for the current quarter is expected to be -$0.07.
Ocugen Inc. (NASDAQ:OCGN) trade information
Instantly OCGN was in red as seen in intraday trades today. With action -4.62%, the performance over the past five days has been red. The drop to weekly highs of 0.4480 on Friday, 09/15/23 subtracted -2.10% to the stock’s daily price. The company’s shares are showing year-to-date downside of -69.18%, with the 5-day performance at -4.62% in the red. However, in the 30-day time frame, Ocugen Inc. (NASDAQ:OCGN) is -8.77% down. Looking at the short shares, we see there were 25.52 million shares sold at short interest cover period of 6.86 days.
The consensus price target for the stock as assigned by Wall Street analysts is $4.00, meaning bulls need an upside of 90.0% from its recent market value. According to analyst projections, OCGN’s forecast low is $2.00 with $5.00 as the target high. To hit the forecast high, the stock’s price needs a -1150.0% plunge from its current level, while the stock would need to soar -400.0% 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 -58.62% over the past 6 months, a 18.42% in annual growth rate that is considerably higher than the industry average of 11.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Ocugen Inc. will rise 30.00%, while the growth in revenue is estimated to hit 30.00% 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 63.60%. The 2023 estimates are for Ocugen Inc. earnings to decrease by -26.70%.
Ocugen Inc. is expected to release its next quarterly earnings report between November 06 and November 10.
Ocugen Inc. (NASDAQ:OCGN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.51% of Ocugen Inc. shares while 24.21% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 24.58%. There are 24.21% institutions holding the Ocugen Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 4.60% of the shares, roughly 11.81 million OCGN shares worth $4.72 million.
Luminus Management, LLC holds the second largest percentage of outstanding shares, with 1.59% or 4.08 million shares worth $1.63 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 7.6 million shares estimated at $3.04 million under it, the former controlled 2.96% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 1.19% of the shares, roughly 3.06 million shares worth around $1.23 million.