In What Direction Will OncoCyte Corporation’s (NASDAQ:OCX) Stock Goes From Here?

OncoCyte Corporation (NASDAQ: OCX) closed the day trading at $0.30 up 51.50% from the previous closing price of $0.20. In other words, the price has increased by $+0.1030 from its previous closing price. On the day, 7117223 shares were traded. OCX stock price reached its highest trading level at $0.3580 during the session, while it also had its lowest trading level at $0.2074.

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For a better understanding of OCX, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 2.80 and its Current Ratio is at 2.80. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

On January 07, 2022, Stephens started tracking the stock assigning a Overweight rating and target price of $3.10.Stephens initiated its Overweight rating on January 07, 2022, with a $3.10 target price.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Dec 23 when Arno Andrew bought 250,000 shares for $0.35 per share. The transaction valued at 87,875 led to the insider holds 532,049 shares of the business.

Gutfreund John Peter bought 75,000 shares of OCX for $24,728 on Dec 23. The Director now owns 75,000 shares after completing the transaction at $0.33 per share. On Dec 22, another insider, KINGSLEY ALFRED D, who serves as the Director of the company, bought 25,000 shares for $0.28 each. As a result, the insider paid 7,125 and bolstered with 439,111 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 4.79 while its Price-to-Book (P/B) ratio in mrq is 0.47.

Stock Price History:

Over the past 52 weeks, OCX has reached a high of $1.68, while it has fallen to a 52-week low of $0.20. The 50-Day Moving Average of the stock is 0.3936, while the 200-Day Moving Average is calculated to be 0.6687.

Shares Statistics:

Over the past 3-months, OCX traded about 359.19K shares per day on average, while over the past 10 days, OCX traded about 633.1k shares per day. A total of 118.61M shares are outstanding, with a floating share count of 106.54M. Insiders hold about 1.80% of the company’s shares, while institutions hold 59.70% stake in the company. Shares short for OCX as of Jan 30, 2023 were 1.21M with a Short Ratio of 1.00M, compared to 1.69M on Dec 29, 2022. Therefore, it implies a Short% of Shares Outstanding of 1.02% and a Short% of Float of 1.54%.

Earnings Estimates

Current recommendations for the stock of the company come from 5 analysts. On average, analysts expect EPS of -$0.09 for the current quarter, with a high estimate of -$0.07 and a low estimate of -$0.12, while EPS last year was -$0.12. The consensus estimate for the next quarter is -$0.09, with high estimates of -$0.06 and low estimates of -$0.11.

Analysts are recommending an EPS of between -$0.33 and -$0.39 for the fiscal current year, implying an average EPS of -$0.36. EPS for the following year is -$0.32, with 5 analysts recommending between -$0.23 and -$0.45.

Revenue Estimates

5 analysts predict $1.42M in revenue for the current quarter. It ranges from a high estimate of $1.6M to a low estimate of $1.12M. As of the current estimate, OncoCyte Corporation’s year-ago sales were $3.59M, an estimated decrease of -60.40% from the year-ago figure. For the next quarter, 4 analysts are estimating revenue of $1.32M, a decrease of -7.40% over than the figure of -$60.40% in the same quarter last year. There is a high estimate of $2.2M for the next quarter, whereas the lowest estimate is $600k.

A total of 5 analysts have provided revenue estimates for OCX’s current fiscal year. The highest revenue estimate was $6.2M, while the lowest revenue estimate was $5.63M, resulting in an average revenue estimate of $5.95M. In the same quarter a year ago, actual revenue was $7.73M, down -23.00% from the average estimate. Based on 5 analysts’ estimates, the company’s revenue will be $10.08M in the next fiscal year. The high estimate is $18M and the low estimate is $4.12M. The average revenue growth estimate for next year is up 69.40% from the average revenue estimate for this year.