Friday, August 7, 2020

Ocean Power Technologies Inc. [OPTT] is -2.30% lower this YTD. Is it still time to buy?

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Ocean Power Technologies Inc. [NASDAQ: OPTT] surged by $0.08 during the normal trading session on Thursday and reaching a high of $0.93 during the day while it closed the day at $0.85. The company report on July 8, 2020 that Ocean Power Technologies Unveils Autonomous Surface Surveillance Solution for Offshore Territorial Applications.

Scalable PowerBuoy® Surveillance Solution Can Link Multiple Marine Coverage Zones Over Extended Distances.

Ocean Power Technologies, Inc. (“OPT” or “the Company”) (OPTT), a leader in innovative and cost-effective ocean energy solutions, today announced the availability of its PowerBuoy® Surface Surveillance Solution suitable for security monitoring of offshore areas.

Ocean Power Technologies Inc. stock has also loss -0.23% of its value over the past 7 days. However, OPTT stock has inclined by 90.45% in the 3 months of the year. Over the past six months meanwhile, it has gained 2.45% and lost -2.30% year-on date.

The market cap for OPTT stock reached $15.36 million, with 17.12 million shares outstanding and 16.98 million shares in the current float. Compared to the average trading volume of 1.98M shares, OPTT reached a trading volume of 2662929 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Ocean Power Technologies Inc. [OPTT]:

H.C. Wainwright have made an estimate for Ocean Power Technologies Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 25, 2015. While these analysts kept the previous recommendation, Ascendiant Capital Markets raised their target price to Strong Buy. The new note on the price target was released on May 09, 2013, representing the official price target for Ocean Power Technologies Inc. stock. Previously, the target price had yet another drop from $19 to $14, while UBS kept a Buy rating on OPTT stock.

The Average True Range (ATR) for Ocean Power Technologies Inc. is set at 0.09, with the Price to Sales ratio for OPTT stock in the period of the last 12 months amounting to 9.04. The Price to Book ratio for the last quarter was 0.75.

OPTT stock trade performance evaluation

Ocean Power Technologies Inc. [OPTT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.23. With this latest performance, OPTT shares gained by 20.60% in over the last four-week period, additionally plugging by 2.45% over the last 6 months – not to mention a drop of -48.48% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OPTT stock in for the last two-week period is set at 65.70, with the RSI for the last a single of trading hit 68.32, and the three-weeks RSI is set at 62.53 for Ocean Power Technologies Inc. [OPTT]. The present Moving Average for the last 50 days of trading for this stock 0.6424, while it was recorded at 0.7987 for the last single week of trading, and 0.7611 for the last 200 days.

Ocean Power Technologies Inc. [OPTT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Ocean Power Technologies Inc. [OPTT] shares currently have an operating margin of -675.68 and a Gross Margin at -6.24. Ocean Power Technologies Inc.’s Net Margin is presently recorded at -615.46.

Return on Total Capital for OPTT is now -82.43, given the latest momentum, and Return on Invested Capital for the company is -75.71. Return on Equity for this stock declined to -78.82, with Return on Assets sitting at -64.89. When it comes to the capital structure of this company, Ocean Power Technologies Inc. [OPTT] has a Total Debt to Total Equity ratio set at 12.46. Additionally, OPTT Total Debt to Total Capital is recorded at 11.08, with Total Debt to Total Assets ending up at 9.65. Long-Term Debt to Equity for the company is recorded at 10.27, with the Long-Term Debt to Total Capital now at 9.14.

Reflecting on the efficiency of the workforce at the company, Ocean Power Technologies Inc. [OPTT] managed to generate an average of -$287,556 per employee. Receivables Turnover for the company is 7.72 with a Total Asset Turnover recorded at a value of 0.11.Ocean Power Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.10 and a Current Ratio set at 6.10.

Ocean Power Technologies Inc. [OPTT]: Insider Ownership positions

There are presently around $0 million, or 1.20% of OPTT stock, in the hands of institutional investors. The top three institutional holders of OPTT stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 182,857, which is approximately New of the company’s market cap and around 0.15% of the total institutional ownership; VANGUARD GROUP INC, holding 18,163 shares of the stock with an approximate value of $15000.0 in OPTT stocks shares; and VICTORY CAPITAL MANAGEMENT INC, currently with $1000.0 in OPTT stock with ownership of nearly New of the company’s market capitalization.

Positions in Ocean Power Technologies Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 4 institutional holders increased their position in Ocean Power Technologies Inc. [NASDAQ:OPTT] by around 184,603 shares. Additionally, 4 investors decreased positions by around 237,409 shares, while 5 investors held positions by with 218,055 shares. The mentioned changes placed institutional holdings at 203,957 shares, according to the latest SEC report filing. OPTT stock had 3 new institutional investments in for a total of 184,506 shares, while 3 institutional investors sold positions of 237,337 shares during the same period.

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