Ocean Power Technologies Inc. (NASDAQ: OPTT) is 72.49% higher on its value in year-to-date trading and has touched a low of $0.33 and a high of $7.30 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The OPTT stock was last observed hovering at around $4.36 in the last trading session, with the day’s gains setting it 0.28% off its average median price target of $1200.00 for the next 12 months. It is also 99.61% off the consensus price target high of $1200.00 offered by 1 analysts, but current levels are 99.61% higher than the price target low of $1200.00 for the same period.
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Currently trading at $4.64, the stock is -5.52% and 27.71% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.51 million and changing 6.42% at the moment leaves the stock 157.87% off its SMA200. OPTT registered 545.25% gain for a year compared to 6-month gain of 259.69%. The firm has a 50-day simple moving average (SMA 50) of $4.1809 and a 200-day simple moving average (SMA200) of $2.3841.
The stock witnessed a 28.89% loss in the last 1 month and extending the period to 3 months gives it a 135.53%, and is -9.20% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 9.70% over the week and 18.22% over the month.
Ocean Power Technologies Inc. (OPTT) has around 29 employees, a market worth around $134.28M and $1.60M in sales. Distance from 52-week low is 1310.33% and -36.44% from its 52-week high. The company has generated returns on investments over the last 12 months (-99.70%).
Ocean Power Technologies Inc. (OPTT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Ocean Power Technologies Inc. (OPTT) is a “Hold”. 1 analysts offering their recommendations for the stock have an average rating of 3.00, where 1 rate it as a Hold and 0 think it is a “Overweight”. 0 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Ocean Power Technologies Inc. quarterly earnings per share for the current quarter are estimated at $0.The EPS is expected to grow by 84.90% this year.
Ocean Power Technologies Inc. (OPTT) Top Institutional Holders
17 institutions hold shares in Ocean Power Technologies Inc. (OPTT), with 14.16k shares held by insiders accounting for 0.05% while institutional investors hold 0.99% of the company’s shares. The shares outstanding are 31.13M, and float is at 30.66M with Short Float at 10.99%. Institutions hold 0.99% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 0.88 million shares valued at $2.37 million. The investor’s holdings represent 2.86% of the OPTT Shares outstanding. As of Sep 29, 2020, the second largest holder is Virtu Financial LLC with 63327.0 shares valued at $63960.0 to account for 0.21% of the shares outstanding. The other top investors are Bank Of New York Mellon Corporation which holds 29236.0 shares representing 0.09% and valued at over $78644.0, while Citadel Advisors LLC holds 0.09% of the shares totaling 28699.0 with a market value of $28985.0.
Ocean Power Technologies Inc. (OPTT) Insider Activity
A total of 2 insider transactions have happened at Ocean Power Technologies Inc. (OPTT) in the last six months, with sales accounting for 1 and purchases happening 1 times. The most recent transaction is an insider sale by WINTERS ROBERT K, the company’s Director. SEC filings show that WINTERS ROBERT K sold 25,000 shares of the company’s common stock on Dec 30 at a price of $2.90 per share for a total of $72398.0. Following the sale, the insider now owns 0.0 shares.