Ocean Power Technologies (AMEX: OPTT) has experienced a decline in its stock price by -2.39 compared to its previous closing price of 0.20. However, the company has seen a gain of 0.36% in its stock price over the last five trading days. globenewswire.com reported 2024-08-21 that MONROE TOWNSHIP, N.J., Aug. 21, 2024 (GLOBE NEWSWIRE) — Ocean Power Technologies, Inc. (“OPT” or “the Company”) (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will report its fiscal 2025 first quarter results for the period ended July 31, 2024 after the market closes on Monday September 16, 2024.
Is It Worth Investing in Ocean Power Technologies (AMEX: OPTT) Right Now?
The 36-month beta value for OPTT is at 2.20. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for OPTT is 89.37M, and currently, shorts hold a 6.36% of that float. The average trading volume for OPTT on August 27, 2024 was 31.06M shares.
OPTT’s Market Performance
OPTT stock saw a decrease of 0.36% in the past week, with a monthly decline of -15.97% and a quarterly a decrease of -3.12%. The volatility ratio for the week is 6.74%, and the volatility levels for the last 30 days are 10.57% for Ocean Power Technologies (OPTT).. The simple moving average for the past 20 days is -3.76% for OPTT’s stock, with a -26.45% 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 -24.01% 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 -65.62% of loss for the given period.
Volatility was left at 10.57%, however, over the last 30 days, the volatility rate increased by 6.74%, as shares sank -15.96% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +44.79% upper at present.
During the last 5 trading sessions, OPTT rose by +1.28%, which changed the moving average for the period of 200-days by -32.08% in comparison to the 20-day moving average, which settled at $0.2015. In addition, Ocean Power Technologies saw -38.07% 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 3.18. 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 conclusion, Ocean Power Technologies (OPTT) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others 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.
