A Great Bargain Stock You Could Consider Is Ocugen Inc. (OCGN)

Ocugen Inc. (NASDAQ:OCGN) has a beta value of 3.94 and has seen 4.13 million shares traded in the last trading session. The company, currently valued at £199.25M, closed the last trade at £0.92 per share which meant it gained £0.04 on the day or 4.91% during that session. The OCGN stock price is -308.7% off its 52-week high price of £3.76 and 7.61% above the 52-week low of £0.85.

If we look at the company’s 10-day average daily trading volume, we find that it stood at 10.66 million shares traded. The 3-month trading volume is 7.03 million shares. The consensus among analysts is that Ocugen Inc. (OCGN) is a Buy stock at the moment, with a recommendation rating of 2.00.

0 analysts rate the stock as a Sell, while 0 rate it as Overweight.

0 out of 6 have rated it as a Hold, with 6 advising it as a Buy.

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Sporting 4.91% in the green in last session, the stock has traded in the red over the last five days, with the highest price hit on Friday, 03/24/23 when the OCGN stock price touched £0.92 or saw a rise of 5.15%. Year-to-date, Ocugen Inc. shares have moved -28.98%, while the 5-day performance has seen it change -4.64%. Over the past 30 days, the shares of Ocugen Inc. (NASDAQ:OCGN) have changed -5.61%.

Short interest in the company has seen 44.97 million shares shorted with days to cover at 7.12. Wall Street analysts have a consensus price target for the stock at £4.83, which means that the shares’ value could jump 80.95% from current levels. The projected low price target is £3.00 while the price target rests at a high of £8.00.

In that case, then, we find that the current price level is -769.57% off the targeted high while a plunge would see the stock gain -226.09% from current levels.

Ocugen Inc. (OCGN) estimates and forecasts

Figures show that Ocugen Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -49.83% over the past 6 months, with this year growth rate of -18.42%, compared to 8.30% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue.

Growth estimates for the current quarter are -42.90% and -22.20% for the next quarter.

5 analysts offering their estimates for the company have set an average revenue estimate of £2.6 million for the current quarter.

4 have an estimated revenue figure of £1 million for the next quarter concluding in Mar 2023. If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 63.60% over the past 5 years.

OCGN Dividends

Ocugen Inc. is expected to release its next earnings report between May 04 and May 08 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Ocugen Inc. (NASDAQ:OCGN)’s Major holders

Insiders own 2.48% of the company shares, while shares held by institutions stand at 38.61% with a share float percentage of 39.59%. Investors are also buoyed by the number of investors in a company, with Ocugen Inc. having a total of 179 institutions that hold shares in the company.

The top two institutional holders are State Street Corporation with over 26.01 million shares worth more than £46.29 million. As of Sep 29, 2022, State Street Corporation held 11.88% of shares outstanding. The other major institutional holder is Blackrock Inc., with the holding of over 13.55 million shares as of Sep 29, 2022.

The firm’s total holdings are worth over £24.12 million and represent 6.19% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund.

As of Dec 30, 2022, the former fund manager holds about 10.81% shares in the company for having 23.66 million shares of worth £30.75 million while later fund manager owns 6.5 million shares of worth £11.58 million as of Sep 29, 2022, which makes it owner of about 2.97% of company’s outstanding stock.

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