Ocean Power Technologies (AMEX: OPTT) is -8.86% lower on its value in year-to-date trading and has touched a low of $0.25 and a high of $0.77 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The OPTT stock was last observed hovering at around $0.29 in the last trading session, with the day’s loss setting it 0.0%.
Currently trading at $0.29, the stock is -4.36% and -5.10% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.94 million and changing -1.67% at the moment leaves the stock -29.93% off its SMA200. OPTT registered -47.58% loss for a year compared to 6-month loss of -28.39%. The firm has a 50-day simple moving average (SMA 50) of $2.77 and a 200-day simple moving average (SMA200) of -$0.36.
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The stock witnessed a -16.52% gain in the last 1 month and extending the period to 3 months gives it a -4.10%, and is -2.14% 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 6.80% over the week and 9.40% over the month.
Ocean Power Technologies (OPTT) has around 72 employees, a market worth around $16.93M and $4.93M in sales. Profit margin for the company is -614.25%. Distance from 52-week low is 16.60% and -62.55% from its 52-week high. The company has generated returns on investments over the last 12 months (-110.89%).
Ocean Power Technologies quarterly earnings per share for the current quarter are estimated at $0.
43 institutions hold shares in Ocean Power Technologies (OPTT), with institutional investors hold 7.50% of the company’s shares. The shares outstanding are 56.26M, and float is at 54.50M with Short Float at 5.89%. Institutions hold 6.96% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 1.81 million shares valued at $1.09 million. The investor’s holdings represent 3.56% of the OPTT Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 0.58 million shares valued at $0.35 million to account for 1.14% of the shares outstanding. The other top investors are Geode Capital Management, LLC which holds 0.48 million shares representing 0.94% and valued at over $0.29 million, while Bailard, Inc. holds 0.38% of the shares totaling 0.19 million with a market value of $0.12 million.
Ocean Power Technologies (OPTT) Insider Activity
The most recent transaction is an insider purchase by Slaiby Peter E., the company’s Director. SEC filings show that Slaiby Peter E. bought 25,000 shares of the company’s common stock on Sep 28 ’23 at a price of $0.39 per share for a total of $9750.0. Following the purchase, the insider now owns 96577.0 shares.
Ocean Power Technologies disclosed in a document filed with the SEC on Sep 18 ’23 that Powers Robert Patrick (Senior VP and CFO) bought a total of 12,345 shares of the company’s common stock. The trade occurred on Sep 18 ’23 and was made at $0.40 per share for $4950.0. Following the transaction, the insider now directly holds 28888.0 shares of the OPTT stock.
Still, SEC filings show that on Sep 15 ’23, Stratmann Philipp (President and CEO) acquired 12,115 shares at an average price of $0.41 for $4999.0. The insider now directly holds 93,807 shares of Ocean Power Technologies (OPTT).
