Ocugen Inc (NASDAQ: OCGN): To Buy Or Not To Buy, That Is The Question

Ocugen Inc (OCGN) concluded trading on Thursday at a closing price of $1.00, with 4.84 million shares of worth about $4.84 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -49.49% during that period and on November 14, 2024 the price saw a gain of about 4.37%. Currently the company’s common shares owned by public are about 287.86M shares, out of which, 283.71M shares are available for trading.

Stock saw a price change of -7.41% in past 5 days and over the past one month there was a price change of 6.48%. Year-to-date (YTD), OCGN shares are showing a performance of 73.91% which increased to 167.38% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.35 but also hit the highest price of $2.11 during that period. The average intraday trading volume for Ocugen Inc shares is 3.57 million. The stock is currently trading 3.32% above its 20-day simple moving average (SMA20), while that difference is down -1.58% for SMA50 and it goes to -22.08% lower than SMA200.

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Ocugen Inc (NASDAQ: OCGN) currently have 287.86M outstanding shares and institutions hold larger chunk of about 25.55% of that.

The stock has a current market capitalization of $287.86M and its 3Y-monthly beta is at 3.85. It has posted earnings per share of -$0.17 in the same period. It has Quick Ratio of 1.04 while making debt-to-equity ratio of 0.17. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for OCGN, volatility over the week remained 11.42% while standing at 7.58% over the month.

Stock’s fiscal year EPS is expected to rise by 22.12% while it is estimated to decrease by -25.93% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Maxim Group on October 15, 2024 offering a Buy rating for the stock and assigned a target price of $4 to it. Coverage by Chardan Capital Markets stated Ocugen Inc (OCGN) stock as a Buy in their note to investors on March 01, 2023, suggesting a price target of $3.50 for the stock. On August 23, 2022, Mizuho Initiated their recommendations, while on June 15, 2022, ROTH Capital Resumed their ratings for the stock with a price target of $8. Stock get an Overweight rating from Cantor Fitzgerald on June 02, 2022.

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