Oncocyte Corporation (NASDAQ: OCX)’s stock price has decreased by -9.74 compared to its previous closing price of 2.96. However, the company has seen a -7.72% decrease in its stock price over the last five trading sessions. GlobeNewsWire reported 2024-04-09 that IRVINE, Calif., April 09, 2024 (GLOBE NEWSWIRE) — Oncocyte Corporation (Nasdaq: OCX), a precision diagnostics company, announced today that the company will release its fourth quarter and full year 2023 financial results on Friday, April 12, 2024, prior to the U.S. market open.
Is It Worth Investing in Oncocyte Corporation (NASDAQ: OCX) Right Now?
Additionally, the 36-month beta value for OCX is 0.77. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 1 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for OCX is 7.60M and currently, short sellers hold a 2.36% ratio of that float. The average trading volume of OCX on April 12, 2024 was 14.63K shares.
OCX’s Market Performance
OCX stock saw a decrease of -7.72% in the past week, with a monthly decline of -11.09% and a quarterly a decrease of -19.45%. The volatility ratio for the week is 2.05%, and the volatility levels for the last 30 days are 2.68% for Oncocyte Corporation (OCX). The simple moving average for the last 20 days is -9.94% for OCX stock, with a simple moving average of -18.95% for the last 200 days.
Analysts’ Opinion of OCX
Stephens gave a rating of “Overweight” to OCX, setting the target price at $3.10 in the report published on January 07th of the previous year.
OCX Trading at -10.11% from the 50-Day Moving Average
After a stumble in the market that brought OCX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -61.77% of loss for the given period.
Volatility was left at 2.68%, however, over the last 30 days, the volatility rate increased by 2.05%, as shares sank -6.44% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -10.97% lower at present.
During the last 5 trading sessions, OCX fell by -4.83%, which changed the moving average for the period of 200-days by -35.60% in comparison to the 20-day moving average, which settled at $2.96. In addition, Oncocyte Corporation saw 7.05% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at OCX starting from KINGSLEY ALFRED D, who purchase 30,000 shares at the price of $0.21 back on Jun 14 ’23. After this action, KINGSLEY ALFRED D now owns 469,111 shares of Oncocyte Corporation, valued at $6,447 using the latest closing price.
Stock Fundamentals for OCX
Current profitability levels for the company are sitting at:
- 4.81 for the present operating margin
- -1.07 for the gross margin
The net margin for Oncocyte Corporation stands at 24.19. The total capital return value is set at -0.15.
Based on Oncocyte Corporation (OCX), the company’s capital structure generated 0.08 points at debt to capital in total, while cash flow to debt ratio is standing at -9.24. The debt to equity ratio resting at 0.08. The interest coverage ratio of the stock is -81.07.
Currently, EBITDA for the company is -30.4 million with net debt to EBITDA at -31.22. When we switch over and look at the enterprise to sales, we see a ratio of -4.86. The receivables turnover for the company is -1.25for trailing twelve months and the total asset turnover is -0.03. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.11.
Conclusion
In conclusion, Oncocyte Corporation (OCX) has seen bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
