Ocugen Inc (NASDAQ:OCGN) price closed lower on Tuesday, March 26, dropping -5.46% below its previous close.
A look at the daily price movement shows that the last close reads $1.83. The company’s 5Y monthly beta was ticking 3.68. Taking into account the 52-week price action we note that the stock hit a 52-week high of $2.11 and 52-week low of $0.34. The stock added 92.22% on its value in the past month.
Ocugen Inc, which has a market valuation of $443.75 million, is expected to release its quarterly earnings report May 03, 2024 – May 07, 2024. Analysts tracking OCGN have forecast the quarterly EPS to shrink by -0.06 per share this quarter, while the same analysts predict the annual EPS to hit -$0.28 for the year 2024 and up to -$0.28 for 2024.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give OCGN a short term outlook of 100% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Buy, while an average of long term indicators are currently assigning the stock as 100% Buy.
The overview shows that OCGN’s price is at present 59.56% off the SMA20 and 111.78% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 77.06, with weekly volatility standing at 22.39%. The indicator jumps to 13.36% when calculated based on the past 30 days. Ocugen Inc (NASDAQ:OCGN)’s beta value is holding at 3.52, while the average true range (ATR) indicator is currently reading 0.19.
An analysis of the Ocugen Inc (NASDAQ:OCGN) stock in terms of its daily trading volume indicates that the 3-month average is 7.52 million. However, this figure increases on the past 10-day timeline to an average of 16.84 million.
Current records show that the company has 256.50M in outstanding shares. The insiders’ percentage holdings are 2.20% of outstanding shares while the percentage share held by institutions stands at 10.22%. The stats also highlight that short interest as of Feb 29, 2024, stood at 36.65 million shares, which puts the short ratio at the time at 4.47. From this we can glean that short interest is 14.29% of company’s current outstanding shares. Notably, we see that shares short in February rose slightly given the previous month’s figure stood at 23.71 million. But the 200.87% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
