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What should you know before buying stock in Ocean Power Technologies Inc. (OPTT)

Ocean Power Technologies Inc. (NASDAQ: OPTT) is 1.12% 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 $2.95 in the last trading session, with the day’s loss setting it -0.23% off its average median price target of $1200.00 for the next 12 months. It is also 99.77% off the consensus price target high of $1200.00 offered by 1 analysts, but current levels are 99.77% higher than the price target low of $1200.00 for the same period.

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Currently trading at $2.72, the stock is -20.17% and -33.08% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.71 million and changing -7.80% at the moment leaves the stock 23.48% off its SMA200. OPTT registered 664.04% gain for a year compared to 6-month gain of 159.05%. The firm has a 50-day simple moving average (SMA 50) of $3.8941 and a 200-day simple moving average (SMA200) of $2.8001.

The stock witnessed a -25.89% loss in the last 1 month and extending the period to 3 months gives it a -12.54%, and is -20.93% 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 12.68% over the week and 14.26% over the month.

Ocean Power Technologies Inc. (OPTT) has around 29 employees, a market worth around $139.59M and $1.20M in sales. Distance from 52-week low is 726.75% and -62.74% 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. is expected to release its quarterly report on 07/09/2021 and 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 23.44k shares held by insiders accounting for 0.05% while institutional investors hold 0.99% of the company’s shares. The shares outstanding are 33.72M, and float is at 30.78M with Short Float at 13.43%. 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 1.73% of the OPTT Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 0.57 million shares valued at $1.54 million to account for 1.12% of the shares outstanding. The other top investors are Geode Capital Management, LLC which holds 0.19 million shares representing 0.38% and valued at over $0.52 million, while Northern Trust Corporation holds 0.11% of the shares totaling 57058.0 with a market value of $0.15 million.

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’sDirector. 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.

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