During the last session, Ocugen Inc (NASDAQ:OCGN)’s traded shares were 3.71 million, with the beta value of the company hitting 3.74. At the end of the trading day, the stock’s price was $0.97, reflecting an intraday gain of 1.11% or $0.01. The 52-week high for the OCGN share is $2.11, that puts it down -117.53 from that peak though still a striking 63.92% gain since the share price plummeted to a 52-week low of $0.35. The company’s market capitalization is $280.37M, and the average intraday trading volume over the past 10 days was 3.17 million shares, and the average trade volume was 4.03 million shares over the past three months.
Ocugen Inc (OCGN) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.00. OCGN has a Sell rating from 0 analyst(s) out of 5 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 5 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 -0.05.
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Ocugen Inc (NASDAQ:OCGN) trade information
Ocugen Inc (OCGN) registered a 1.11% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.11% in intraday trading to $0.97, hitting a weekly high. The stock’s 5-day price performance is 7.02%, and it has moved by 2.53% in 30 days. Based on these gigs, the overall price performance for the year is 170.56%. The short interest in Ocugen Inc (NASDAQ:OCGN) is 51.92 million shares and it means that shorts have 14.1 day(s) to cover.
The consensus price target of analysts on Wall Street is $5, which implies an increase of 80.6% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $3.5 and $6 respectively. As a result, OCGN is trading at a discount of -518.56% off the target high and -260.82% off the low.
Ocugen Inc (OCGN) estimates and forecasts
Statistics show that Ocugen Inc has outperformed its competitors in share price, compared to the industry in which it operates. Ocugen Inc (OCGN) shares have gone down -29.93% during the last six months, with a year-to-date growth rate more than the industry average at 23.08% against 17.30. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 16.70% this quarter and then drop -100.00% in the quarter after that. In the rating firms’ projections, revenue will decrease -54.40% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 300k as predicted by 4 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to 400k by the end of current fiscal year.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 41.20%. While earnings are projected to return 18.27% in 2024.
OCGN Dividends
Ocugen Inc is due to release its next quarterly earnings in November. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Ocugen Inc (NASDAQ:OCGN)’s Major holders
Ocugen Inc insiders own 1.41% of total outstanding shares while institutional holders control 23.91%, with the float percentage being 24.25%. BLACKROCK INC. is the largest shareholder of the company, while 121.0 institutions own stock in it. As of 2024-06-30, the company held over 17.92 million shares (or 6.9665% of all shares), a total value of $27.78 million in shares.
The next largest institutional holding, with 15.52 million shares, is of VANGUARD GROUP INC’s that is approximately 6.0339% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $24.06 million.
