Opgen Inc (NASDAQ: OPGN) In 2024: Is This Company Worth Thinking About Investing In?

In today’s recent session, 0.64 million shares of the Opgen Inc (NASDAQ:OPGN) have been traded, and its beta is -0.68. Most recently the company’s share price was $0.62, and it changed around $0.02 or 3.94% from the last close, which brings the market valuation of the company to $6.21M. OPGN at last check was trading at a discount to its 52-week high of $3.84, offering almost -519.35% off that amount. The share price’s 52-week low was $0.17, which indicates that the recent value has risen by an impressive 72.58% since then. We note from Opgen Inc’s average daily trading volume that its 10-day average is 10.07 million shares, with the 3-month average coming to 1.66 million.

Opgen Inc stock received a consensus recommendation rating of Buy, based on a mean score of 3.00. If we narrow it down even further, the data shows that 0 out of 2 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended OPGN as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Opgen Inc is expected to report earnings per share of -$0.13 for the current quarter.

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Opgen Inc (NASDAQ:OPGN) trade information

Instantly OPGN has been showing a green trend so far today with a performance of 3.94% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently up 47.62% year-to-date, but still up 30.53% over the last five days. On the other hand, Opgen Inc (NASDAQ:OPGN) is 6.09% up in the 30-day period. We can see from the shorts that 20810.0 shares have been sold at a short interest cover period of 0.09 day(s).

The consensus price target as assigned by Wall Street analysts is $0.67, which translates to bulls needing to increase their stock price by 7.46% from its current value. Analyst projections state that OPGN is forecast to be at a low of $0.67 and a high of $0.67.

Opgen Inc (OPGN) estimates and forecasts

Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 97.80% in revenue this quarter, and will report an increase of 97.70% in the next quarter. The year-over-year growth rate is expected to be 0.10%, up from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $640k in revenue for the current quarter. 1 analysts expect Opgen Inc to make $600k in revenue for the quarter ending Mar 2024. Analysts predict that the company’s current quarter sales will drop, forecast at -11.40%.

Opgen Inc (NASDAQ:OPGN)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.42% of Opgen Inc shares, and 2.68% of them are in the hands of institutional investors. The stock currently has a share float of 2.69%. Opgen Inc stock is held by 17 institutions, with Armistice Capital, LLC being the largest institutional investor. By Jun 29, 2023, it held 7.04% of the shares, which is about 0.63 million shares worth $0.51 million.

Vanguard Group Inc, with 0.41% or 36701.0 shares worth $29907.0 as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 36701.0 shares worth $29907.0, making up 0.41% of all outstanding shares. On the other hand, Fidelity Extended Market Index Fund held roughly 9677.0 shares worth around $7273.0, which represents about 0.11% of the total shares outstanding.