Ocular Therapeutix Inc (NASDAQ:OCUL) shares, rose in value, with the stock price down by -0.35% to the previous day’s close as strong demand from buyers drove the stock to $8.44.
Actively observing the price movement in the last trading, the stock closed the session at $8.47. The value of beta (5-year monthly) was 1.31. Referring to stock’s 52-week performance, its high was $11.31, and the low was $2.00. On the whole, OCUL has fluctuated by -22.07% over the past month.
With the market capitalization of Ocular Therapeutix Inc currently standing at about $1.25 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 06, 2024 – May 10, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.17, which is expected to increase to -$0.13 for fiscal year -$0.68 and then to about -$0.81 by fiscal year 2025. Data indicates that the EPS growth is expected to be 33.30% in 2025, while the next year’s EPS growth is forecast to be -19.10%.
Analysts have estimated the company’s revenue for the quarter at $15.38 million, with a low estimate of $14.4 million and a high estimate of $16.5 million. According to the average forecast, sales growth in current quarter could jump up 15.00%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $68.04 million, representing an increase of 16.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that OCUL’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of OCUL currently trading nearly -9.96% and 5.07% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 41.91, while the 7-day volatility ratio is showing 5.02% which for the 30-day chart, stands at 6.48%. Furthermore, Ocular Therapeutix Inc (OCUL)’s beta value is 1.34, and its average true range (ATR) is 0.57.
A comparison of Ocular Therapeutix Inc (OCUL) with its peers suggests the former has fared considerably weaker in the market. OCUL showed an intraday change of -0.35% in last session, and over the past year, it grew by 68.46%%.
Data on historical trading for Ocular Therapeutix Inc (NASDAQ:OCUL) indicates that the trading volumes over the past 10 days have averaged 1.31 million and over the past 3 months, they’ve averaged 2.07 million. According to company’s latest data on outstanding shares, there are 148.63 million shares outstanding.
Nearly 12.32% of Ocular Therapeutix Inc’s shares belong to company insiders and institutional investors own 45.09% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 9.16 million shares as on Mar 15, 2024, resulting in a short ratio of 2.7. According to the data, the short interest in Ocular Therapeutix Inc (OCUL) stood at 6.17% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 3.97 million. The stock has risen by 89.24% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the OCUL stock heading into the next quarter.
