Ocugen Inc (OCGN): Why Is Stock So Good?

In the latest trading session, 1.21 million Ocugen Inc (NASDAQ:OCGN) shares changed hands as the company’s beta touched 3.30. With the company’s most recent per share price at $0.58 changing hands around $0.04 or 6.97% at last look, the market valuation stands at $147.62M. OCGN’s current price is a discount, trading about -96.55% off its 52-week high of $1.14. The share price had its 52-week low at $0.34, which suggests the last value was 41.38% up since then. When we look at Ocugen Inc’s average trading volume, we note the 10-day average is 1.29 million shares, with the 3-month average coming to 1.96.

Ocugen Inc (NASDAQ:OCGN) trade information

Instantly OCGN is in green as seen in intraday trades today. With action 14.19%, the performance over the past five days has been green. The jump to weekly highs of 0.5900 added 6.97% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.09%, with the 5-day performance at 14.19% in the green. However, in the 30-day time frame, Ocugen Inc (NASDAQ:OCGN) is -6.41% down. Looking at the short shares, we see there were 23.71 million shares sold at short interest cover period of 7.4 days.

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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 14.89% over the past 6 months, a 23.68% in annual growth rate that is considerably higher than the industry average of 15.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Ocugen Inc will rise 40.00%, while the growth in revenue is estimated to hit 14.30% 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 63.63%. The 2024 estimates are for Ocugen Inc earnings to increase by 25.44%.

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