Why Ocean Power Technologies (OPTT) Stock Could See Much Higher Prices Ahead

Ocean Power Technologies (AMEX: OPTT) is -49.24% lower on its value in year-to-date trading and has touched a low of $0.12 and a high of $0.57 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 $0.16 in the last trading session, with the day’s loss setting it 0.0%.

Currently trading at $0.16, the stock is 1.03% and -10.05% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.74 million and changing 0.88% at the moment leaves the stock -32.57% off its SMA200. OPTT registered -55.70% loss for a year compared to 6-month gain of -10.39%. The firm has a 50-day simple moving average (SMA 50) of $0.1782 and a 200-day simple moving average (SMA200) of $0.23805.

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The stock witnessed a -13.67% loss in the last 1 month and extending the period to 3 months gives it a -49.00%, and is 4.97% up 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 6.23% over the week and 8.61% over the month.

Ocean Power Technologies (OPTT) has around 43 employees, a market worth around $15.93M and $5.55M in sales. Profit margin for the company is -448.27%. Distance from 52-week low is 33.67% and -71.83% from its 52-week high. The company has generated returns on investments over the last 12 months (-104.46%).

Ocean Power Technologies (OPTT) Top Institutional Holders

37.0 institutions hold shares in Ocean Power Technologies (OPTT), with institutional investors hold 15.16% of the company’s shares. The shares outstanding are 99.32M, and float is at 85.57M with Short Float at 6.95%. Institutions hold 14.61% of the Float.

The top institutional shareholder in the company is VANGUARD GROUP INC with over 1.76 million shares valued at $0.34 million. The investor’s holdings represent 2.9894% of the OPTT Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 0.58 million shares valued at $0.11 million to account for 0.9809 of the shares outstanding. The other top investors are GEODE CAPITAL MANAGEMENT, LLC which holds 0.48 million shares representing 0.8126% and valued at over $93686.0, while HRT FINANCIAL LP holds 0.3556 of the shares totaling 0.21 million with a market value of $40000.0.