A better buy-in window may exist right now for Ocugen Inc. (OCGN)

Ocugen Inc. (NASDAQ: OCGN) stock fell -2.25% on Monday to $0.40 against a previous-day closing price of $0.41. With 5.23 million shares changed hands, the volume of the stock remained heavier than its average volume of 4.92 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $0.4200 whereas the lowest price it dropped to was $0.3950. The 52-week range on OCGN shows that it touched its highest point at $2.32 and its lowest point at $0.40 during that stretch. It currently has a 1-year price target of $4.00. Beta for the stock currently stands at 3.90.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of OCGN was down-trending over the past week, with a drop of -4.76%, but this was down by -8.90% over a month. Three-month performance dropped to -22.12% while six-month performance fell -58.68%. The stock lost -83.05% in the past year, while it has lost -69.23% so far this year. A look at the trailing 12-month EPS for OCGN yields -0.37 with Next year EPS estimates of -0.29. For the next quarter, that number is -0.07. This implies an EPS growth rate of -26.70% for this year and 6.50% for next year.

Float and Shares Shorts:

At present, 256.49 million OCGN shares are outstanding with a float of 252.54 million shares on hand for trading. On Aug 30, 2023, short shares totaled 25.52 million, which was 9.95% higher than short shares on Jul 30, 2023. In addition to Dr. Shankar Musunuri M.B.A., MBA, Ph.D. as the firm’s Co-Founder, CEO, Interim Principal Financial Officer & Chairman, Dr. Uday B. Kompella Ph.D. serves as its Co-founder & Independent Director.

Institutional Ownership:

Through their ownership of 24.21% of OCGN’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.87% of OCGN, in contrast to 2.75% held by mutual funds. Shares owned by individuals account for 11.19%. As the largest shareholder in OCGN with 4.55% of the stake, The Vanguard Group, Inc. holds 11,681,242 shares worth 11,681,242. A second-largest stockholder of OCGN, Luminus Management LLC, holds 4,079,238 shares, controlling over 1.59% of the firm’s shares. GMT Capital Corp. is the third largest shareholder in OCGN, holding 3,922,198 shares or 1.53% stake. With a 2.96% stake in OCGN, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 7,596,773 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.20% of OCGN stock, is the second-largest Mutual Fund holder. It holds 3,064,568 shares valued at 1.32 million. JPMorgan Funds – Thematics – Gene holds 1.18% of the stake in OCGN, owning 3,013,203 shares worth 1.3 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, OCGN reported revenue of $0.00 and operating income of -$19.57M. The EBITDA in the recently reported quarter was -$19.48M and diluted EPS was -$0.09.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for OCGN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With OCGN analysts setting a high price target of $5.00 and a low target of $2.00, the average target price over the next 12 months is $4.00. Based on these targets, OCGN could surge 1150.0% to reach the target high and rise by 400.0% to reach the target low. Reaching the average price target will result in a growth of 900.0% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

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