Company’s 36-month beta value is 2.20.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for OPTT is 87.50M, and currently, short sellers hold a 7.63% ratio of that floaft. The average trading volume of OPTT on August 05, 2024 was 30.87M shares.
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OPTT) stock’s latest price update
The stock price of Ocean Power Technologies (AMEX: OPTT) has dropped by -4.07 compared to previous close of 0.20. Despite this, the company has seen a fall of -17.05% in its stock price over the last five trading days. globenewswire.com reported 2024-08-02 that MONROE TOWNSHIP, N.J., Aug. 02, 2024 (GLOBE NEWSWIRE) — Ocean Power Technologies, Inc. (NYSE American: OPTT) (“OPT” or the “Company”), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today reminds stockholders that a Special Meeting of the Stockholders of OPT will be held at 9 a.m. Eastern time on August 30, 2024, in virtual format only at www.cesonlineservices.com/optt24_vm, for the purpose of voting on proposals to (i) approve an amendment to OPT’s Certificate of Incorporation to increase the number of authorized shares of common stock, par value $.001 per share, from 100,000,000 to 200,000,000, and (ii) approve an adjournment of the Special Meeting from time to time, if necessary or appropriate (as determined in good faith by the Board or a committee thereof), to solicit additional proxies if there are not sufficient votes in favor of the charter amendment proposal.
OPTT’s Market Performance
Ocean Power Technologies (OPTT) has experienced a -17.05% fall in stock performance for the past week, with a -46.50% drop in the past month, and a 1.68% rise in the past quarter. The volatility ratio for the week is 14.46%, and the volatility levels for the past 30 days are at 17.40% for OPTT. The simple moving average for the past 20 days is -42.01% for OPTT’s stock, with a -29.92% 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 -22.37% 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 -67.80% of loss for the given period.
Volatility was left at 17.40%, however, over the last 30 days, the volatility rate increased by 14.46%, as shares sank -51.74% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +2.71% upper at present.
During the last 5 trading sessions, OPTT fell by -17.09%, which changed the moving average for the period of 200-days by -47.81% in comparison to the 20-day moving average, which settled at $0.3228. In addition, Ocean Power Technologies saw -38.86% 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:
- -5.31 for the present operating margin
- 0.51 for the gross margin
The net margin for Ocean Power Technologies stands at -4.97. The total capital return value is set at -1.37. Equity return is now at value -86.84, with -66.97 for asset returns.
Based on Ocean Power Technologies (OPTT), the company’s capital structure generated 0.12 points at debt to capital in total, while cash flow to debt ratio is standing at -11.57.
Currently, EBITDA for the company is -28.24 million with net debt to EBITDA at 0.02. When we switch over and look at the enterprise to sales, we see a ratio of 3.07. The receivables turnover for the company is 6.79for trailing twelve months and the total asset turnover is 0.19. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.43.
Conclusion
In a nutshell, Ocean Power Technologies (OPTT) has experienced a bad performance in recent times. The stock has received mixed “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.
