Additionally, the 36-month beta value for OCEA is 1.65. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for OCEA is 8.71M and currently, short sellers hold a 10.75% ratio of that float. The average trading volume of OCEA on April 23, 2024 was 6.79M shares.
OCEA) stock’s latest price update
Ocean Biomedical Inc. (NASDAQ: OCEA) has seen a decline in its stock price by -14.49 in relation to its previous close of 1.76. However, the company has experienced a -20.79% decline in its stock price over the last five trading sessions. GlobeNewsWire reported 2024-02-29 that Providence, RI, Feb. 29, 2024 (GLOBE NEWSWIRE) — Ocean Biomedical, Inc. (NASDAQ: OCEA ), a biopharma company which endeavors to accelerate the development of compelling discoveries from top research scientists, today congratulates its joint venture partner, Virion Therapeutics, LLC, a clinical-stage biotechnology company developing T cell-based immunotherapies, for the acceptance of their abstract highlighting the first-ever human data from its novel checkpoint modifier immunotherapy for HBV functional cure, for late breaker oral presentation at the upcoming 33 rd Annual Meeting of APASL (The Asian Pacific Association for the Study of the Liver), taking place in Kyoto, Japan from March 27-31, 2024.
OCEA’s Market Performance
Ocean Biomedical Inc. (OCEA) has seen a -20.79% fall in stock performance for the week, with a -66.26% decline in the past month and a 158.72% surge in the past quarter. The volatility ratio for the week is 11.78%, and the volatility levels for the past 30 days are at 12.20% for OCEA. The simple moving average for the last 20 days is -46.67% for OCEA stock, with a simple moving average of -41.53% for the last 200 days.
OCEA Trading at -44.38% from the 50-Day Moving Average
After a stumble in the market that brought OCEA to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -87.54% of loss for the given period.
Volatility was left at 12.20%, however, over the last 30 days, the volatility rate increased by 11.78%, as shares sank -64.62% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +177.52% upper at present.
During the last 5 trading sessions, OCEA fell by -21.05%, which changed the moving average for the period of 200-days by -74.23% in comparison to the 20-day moving average, which settled at $2.6850. In addition, Ocean Biomedical Inc. saw 128.03% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for OCEA
The total capital return value is set at 0.37. Equity return is now at value -678.22, with -176.47 for asset returns.
Based on Ocean Biomedical Inc. (OCEA), the company’s capital structure generated -0.19 points at debt to capital in total, while cash flow to debt ratio is standing at -0.72. The debt to equity ratio resting at -0.16. The interest coverage ratio of the stock is -4.46.
Currently, EBITDA for the company is -0.96 million with net debt to EBITDA at -0.46. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.03.
Conclusion
In conclusion, Ocean Biomedical Inc. (OCEA) has seen mixed performance in recent times. Analysts have a mixed 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.
