Ocugen Inc (OCGN) Reports -26.37% Fall From For 52 Week High, It’s Always Darkest Before The Dawn

Ocugen Inc (NASDAQ:OCGN) does about 8.73M shares in volume on a normal day but saw 3997826 shares change hands in Monday trading. The company now has a market cap of 398.89M USD. Its current market price is $1.55, marking a decrease of -3.13% compared to the previous close of $1.60. The 52 week high reached by this stock is $2.11 whilst the lowest price level in 52 weeks is $0.34.

Ocugen Inc (OCGN) has a 20-day trading average at $1.7610 and the current price is -26.37% off the 52-week high compared with 349.28% distance from its 52-week low. The 50-day simple moving average of the closing price is $1.6019 and its 200-day simple moving average is $0.8374. If we look at the stock’s price movements over the week, volatility stands at 7.43%, which increases to 8.89% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 44.40 to suggest the stock is neutral.

The consensus objective for the share price is $6.67, suggesting that the stock has a potential upside of 76.76% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on March 01, 2023 when Chardan Capital Markets upgraded the stock to “Buy” and issued a price target of $3.50. ROTH Capital resumed its price target at $8.

Ocugen Inc (OCGN) stock is down -8.82% over the week and -7.19% over the past month. Its price is 169.57% year-to-date and 234.48% over the past year.

To reach the target analysts have set, the stock logically needs to grow 76.76 percent from here.

The company has a return on investment of -170.36% and return on equity of -113.11%. The beta has a value of 3.71. Price to book ratio is 13.18 and price to sales ratio is 164.83.