Ocugen Inc (NASDAQ:OCGN) shares, rose in value on Tuesday, December 31, with the stock price down by -0.45% to the previous day’s close as strong demand from buyers drove the stock to $0.81.
Actively observing the price movement in the last trading, the stock closed the session at $0.81, falling within a range of $0.7907 and $0.8389. The value of beta (5-year monthly) was 3.766. Referring to stock’s 52-week performance, its high was $2.11, and the low was $0.49. On the whole, OCGN has fluctuated by -18.03% over the past month.
With the market capitalization of Ocugen Inc currently standing at about $233.47 million, investors are eagerly awaiting this quarter’s results, scheduled for in February.
Wall Street analysts also predicted that the company’s y-o-y revenues would reach 300k.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that OCGN’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the price of OCGN currently trading nearly -2.93% and -10.91% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 44.40, while the 7-day volatility ratio is showing 10.96% which for the 30-day chart, stands at 7.84%. Furthermore, Ocugen Inc (OCGN)’s beta value is 3.86, and its average true range (ATR) is 0.07.
A comparison of Ocugen Inc (OCGN) with its peers suggests the former has fared considerably weaker in the market. OCGN showed an intraday change of -0.45% in last session, and over the past year, it grew by 40.00%%.
Data on historical trading for Ocugen Inc (NASDAQ:OCGN) indicates that the trading volumes over the past 10 days have averaged 7.12 and over the past 3 months, they’ve averaged 4.20 million. According to company’s latest data on outstanding shares, there are 290.26 million shares outstanding.
Nearly 1.44% of Ocugen Inc’s shares belong to company insiders and institutional investors own 27.51% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 58.63 million shares as on 2024-12-13, resulting in a short ratio of 14.91. According to the data, the short interest in Ocugen Inc (OCGN) stood at 2047.00 of shares outstanding as of 2024-12-13; the number of short shares registered in 2024-11-15 reached 54.4 million. The stock has risen by 40.00% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the OCGN stock heading into the next quarter.
