Additionally, the 36-month beta value for OPTT is 2.12. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for OPTT is 55.99M and currently, short sellers hold a 5.42% ratio of that float. The average trading volume of OPTT on May 10, 2024 was 640.67K shares.
OPTT) stock’s latest price update
The stock price of Ocean Power Technologies (AMEX: OPTT) has surged by 3.16 when compared to previous closing price of 0.19, but the company has seen a -2.49% decline in its stock price over the last five trading sessions. Proactive Investors reported 2024-05-07 that Ocean Power Technologies Inc (NYSE-A:OPTT) is a founding member of a new consortium led by drone maker Red Cat which aims to address critical technology gaps for warfighters. Launched on Monday, the Red Cat Futures Initiative (RFI) is a consortium of robotics and autonomous systems partners committed to providing warfighters with the most advanced and interoperable uncrewed aircraft systems.
OPTT’s Market Performance
OPTT’s stock has fallen by -2.49% in the past week, with a monthly drop of -19.28% and a quarterly drop of -34.67%. The volatility ratio for the week is 6.63% while the volatility levels for the last 30 days are 7.46% for Ocean Power Technologies The simple moving average for the past 20 days is -1.59% for OPTT’s stock, with a -41.87% simple moving average for the past 200 days.
Analysts’ Opinion of OPTT
Ascendiant Capital Markets, on the other hand, stated in their research note that they expect to see OPTT reach a price target of $5. The rating they have provided for OPTT stocks is “Strong Buy” according to the report published on May 09th, 2013.
UBS gave a rating of “Buy” to OPTT, setting the target price at $14 in the report published on July 17th of the previous year.
OPTT Trading at -20.49% from the 50-Day Moving Average
After a stumble in the market that brought OPTT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -74.51% of loss for the given period.
Volatility was left at 7.46%, however, over the last 30 days, the volatility rate increased by 6.63%, as shares sank -18.27% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -34.93% lower at present.
During the last 5 trading sessions, OPTT fell by -2.49%, which changed the moving average for the period of 200-days by -67.44% in comparison to the 20-day moving average, which settled at $0.1970. In addition, Ocean Power Technologies saw -37.97% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at OPTT starting from Slaiby Peter E., who purchase 25,000 shares at the price of $0.39 back on Sep 28 ’23. After this action, Slaiby Peter E. now owns 96,577 shares of Ocean Power Technologies, valued at $9,750 using the latest closing price.
Powers Robert Patrick, the Senior VP and CFO of Ocean Power Technologies, purchase 12,345 shares at $0.40 during a trade that took place back on Sep 18 ’23, which means that Powers Robert Patrick is holding 28,888 shares at $4,950 based on the most recent closing price.
Stock Fundamentals for OPTT
Current profitability levels for the company are sitting at:
- -6.59 for the present operating margin
- 0.37 for the gross margin
The net margin for Ocean Power Technologies stands at -6.07. The total capital return value is set at -1.18. Equity return is now at value -77.49, with -64.74 for asset returns.
Based on Ocean Power Technologies (OPTT), the company’s capital structure generated 0.1 points at debt to capital in total, while cash flow to debt ratio is standing at -11.27. The debt to equity ratio resting at 0.11. The interest coverage ratio of the stock is 93.89.
Currently, EBITDA for the company is -28.56 million with net debt to EBITDA at 0.07. When we switch over and look at the enterprise to sales, we see a ratio of 1.92. The receivables turnover for the company is 2.31for trailing twelve months and the total asset turnover is 0.14. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.49.
Conclusion
In conclusion, Ocean Power Technologies (OPTT) has seen bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
