Is a Correction Looming Ahead for Ocugen, Inc. (OCGN)

Ocugen, Inc. (NASDAQ:OCGN) went up by 3.38% from its latest closing price compared to the recent 1-year high of $16.80. The company’s stock price has collected -3.48% of loss in the last five trading sessions. Press Release reported on 09/08/20 that Ocugen Granted 180-Day Extension by Nasdaq to Regain Compliance with Bid Price Rule

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Is It Worth Investing in Ocugen, Inc. (NASDAQ :OCGN) Right Now?

Plus, the 36-month beta value for OCGN is at 2.47. Opinions of the stock are interesting as 1 analysts out of 2 who provided ratings for Ocugen, Inc. declared the stock was a “buy,” while 0 rated the stock as “overweight,” 1 rated it as “hold,” and 0 as “sell.”

The average price from analysts is $0.70, which is -$0.33 below the current price. OCGN currently public float of 121.38M and currently shorts hold a 4.08% ratio of that float. Today, the average trading volume of OCGN was 33.55M shares.

OCGN’s Market Performance

OCGN stocks went down by -3.48% for the week, with a monthly drop of -47.01% and a quarterly performance of 22.26%, while its annual performance rate touched -97.52%. The volatility ratio for the week stands at 7.66% while the volatility levels for the past 30 days are set at 11.15% for Ocugen, Inc.. The simple moving average for the period of the last 20 days is -18.43% for OCGN stocks with a simple moving average of -17.13% for the last 200 days.

OCGN Trading at -17.90% from the 50-Day Moving Average

After a stumble in the market that brought OCGN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -98.04% of loss for the given period.

Volatility was left at 11.15%, however, over the last 30 days, the volatility rate increased by 7.66%, as shares sank -41.55% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +49.23% upper at present.

During the last 5 trading sessions, OCGN fell by -3.48%, which changed the moving average for the period of 200-days by +6.83% in comparison to the 20-day moving average, which settled at $0.3930. In addition, Ocugen, Inc. saw -36.52% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at OCGN starting from Castillo Kirsten, who bought 75,000 shares at the price of $0.31 back on May 28. After this action, Castillo Kirsten now owns 75,000 shares of Ocugen, Inc., valued at $23,498 using the latest closing price.

Musunuri Shankar, the Chief Executive Officer of Ocugen, Inc., bought 143,000 shares at $0.35 during a trade that took place back on Dec 12, which means that Musunuri Shankar is holding 406,000 shares at $50,050 based on the most recent closing price.

Stock Fundamentals for OCGN

Equity return is now at value -614.70, with -159.50 for asset returns.

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