The 36-month beta value for OCEA is at 1.52. Analysts have varying views on the stock, with 1 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for OCEA is 9.14M, and currently, shorts hold a 1.94% of that float. The average trading volume for OCEA on September 26, 2024 was 86.74K shares.
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OCEA) stock’s latest price update
The stock price of Ocean Biomedical Inc. (NASDAQ: OCEA) has jumped by 12.50 compared to previous close of 0.88. Despite this, the company has seen a gain of 1.29% in its stock price over the last five trading days. globenewswire.com reported 2024-08-27 that Providence, RI, Aug. 27, 2024 (GLOBE NEWSWIRE) — Ocean Biomedical (NASDAQ: OCEA ) announced today that its Scientific Co-founder Dr. Jonathan Kurtis, MD, PhD, has been issued a key U.S. patent for his groundbreaking malaria therapeutic antibody discovery that targets PfGARP. Since publicizing news of his original research on PfGARP and its critical role in the malaria cycle in the Journal NATURE, Dr. Kurtis and his team have been working to deepen their understanding of how it naturally triggers the death of malaria parasites, and their control of that mechanism. Their expanded insights have already led to: 1.) a powerful vaccine candidate targeted for long term prevention of malaria infection; 2.) a therapeutic antibody candidate for short term malaria prevention; and 3.) a therapeutic small molecule drug candidate targeted to treat severe malaria, with potential to launch a whole new class of malaria medicines.
OCEA’s Market Performance
Ocean Biomedical Inc. (OCEA) has seen a 1.29% rise in stock performance for the week, with a -1.98% decline in the past month and a -27.74% plunge in the past quarter. The volatility ratio for the week is 10.74%, and the volatility levels for the past 30 days are at 10.63% for OCEA. The simple moving average for the past 20 days is 0.56% for OCEA’s stock, with a -33.26% simple moving average for the past 200 days.
OCEA Trading at -7.48% 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 -87.29% of loss for the given period.
Volatility was left at 10.63%, however, over the last 30 days, the volatility rate increased by 10.74%, as shares surge +5.67% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -19.51% lower at present.
During the last 5 trading sessions, OCEA rose by +1.29%, which changed the moving average for the period of 200-days by +76.47% in comparison to the 20-day moving average, which settled at $0.9871. In addition, Ocean Biomedical Inc. saw 50.00% 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 0.35. 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 -0.71. The debt to equity ratio resting at -0.16. The interest coverage ratio of the stock is -4.22.
Currently, EBITDA for the company is -0.96 million with net debt to EBITDA at -0.47. 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 had a mixed performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others 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.
