The stock of Ocean Power Technologies (OPTT) has gone down by -6.90% for the week, with a -28.95% drop in the past month and a -55.45% drop in the past quarter. The volatility ratio for the week is 10.40%, and the volatility levels for the past 30 days are 10.17% for OPTT. The simple moving average for the past 20 days is -21.10% for OPTT’s stock, with a -53.43% simple moving average for the past 200 days.
Is It Worth Investing in Ocean Power Technologies (AMEX: OPTT) Right Now?
Moreover, the 36-month beta value for OPTT is 2.15. Analysts have varying opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for OPTT is 55.99M and currently, short sellers hold a 9.07% of that float. On June 17, 2024, OPTT’s average trading volume was 2.54M shares.
OPTT) stock’s latest price update
The stock of Ocean Power Technologies (AMEX: OPTT) has increased by 0.33 when compared to last closing price of 0.14. Despite this, the company has experienced a -6.90% fall in its stock price over the last five trading sessions. proactiveinvestors.com reported 2024-06-17 that Ocean Power Technologies Inc (NYSE-A:OPTT) has announced the launch of its Global 24/7 Service Support which will offer its customers round-the-clock support. The provider of intelligent maritime solutions and services said the new offering will allow its customers to access 24/7 support to maintain their operations around the globe.
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 -28.81% 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 -82.20% of loss for the given period.
Volatility was left at 10.17%, however, over the last 30 days, the volatility rate increased by 10.40%, as shares sank -26.54% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -47.39% lower at present.
During the last 5 trading sessions, OPTT fell by -6.60%, which changed the moving average for the period of 200-days by -69.96% in comparison to the 20-day moving average, which settled at $0.1710. In addition, Ocean Power Technologies saw -56.69% 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 1.19. 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
To wrap up, the performance of Ocean Power Technologies (OPTT) has been bad in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. 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.
