Ocular Therapeutix Inc (NASDAQ:OCUL) price on Friday, February 07, fall -0.92% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $7.57.
A look at the stock’s price movement, the close in the last trading session was $7.64, moving within a range at $7.53 and $7.78. The beta value (5-Year monthly) was 1.256. Turning to its 52-week performance, $11.77 and $4.06 were the 52-week high and 52-week low respectively. Overall, OCUL moved -16.63% over the past month.
Ocular Therapeutix Inc’s market cap currently stands at around $1.19 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 16.89M for the company’s revenue for the quarter, with a low and high estimate of 15.7M and 17.78M respectively. The average forecast suggests up to a 14.11% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 63.77M, representing a 9.12% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that OCUL is a 100% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
3 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 3 recommend OCUL as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
OCUL’s current price about -4.32% and -11.77% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 37.96, while 7-day volatility ratio is 5.70% and 4.89% in the 30-day chart. Further, Ocular Therapeutix Inc (OCUL) has a beta value of 1.32, and an average true range (ATR) of 0.40. Analysts have given the company’s stock an average 52-week price target of $17, forecast between a low of $17 and high of $17. Looking at the price targets, the low is -124.57% off current price level while to achieve the yearly target high, price needs to move -124.57%. Nonetheless, investors will most likely welcome a -124.57% jump to $17 which is the analysts’ median price.
If we refocus on Ocular Therapeutix Inc (NASDAQ:OCUL), historical trading data shows that trading volumes averaged 0.96 over the past 10 days and 908.70K over the past 3 months. The company’s latest data on shares outstanding shows there are 156.65 million shares.
The 13.72% of Ocular Therapeutix Inc’s shares are in the hands of company insiders while institutional holders own 75.97% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 12.67 million on 2024-10-31, giving us a short ratio of 9.68. The data shows that as of 2024-10-31 short interest in Ocular Therapeutix Inc (OCUL) stood at 815.99995 of shares outstanding, with shares short falling to 16.19 million registered in 2024-09-30. Current price change has pushed the stock -11.36% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the OCUL stock continues to rise going into the next quarter.
