Ocean Power Technologies Inc. [OPTT] Stock trading around $2.19 per share: What’s Next?

Ocean Power Technologies Inc. [NASDAQ: OPTT] closed the trading session at $2.19 on 11/20/20. The day’s price range saw the stock hit a low of $2.13, while the highest price level was $2.40. The company report on November 16, 2020 that DeepStar® Awards Subsea Systems Engineering Contract to Ocean Power Technologies.

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Study to Utilize PB3 PowerBuoy for ‘Remote Zero Carbon Power for Electric Subsea Operations’ Project.

Ocean Power Technologies, Inc. (“OPT” or “the Company”) (NASDAQ: OPTT), a leader in innovative and cost-effective ocean energy solutions, announced receipt of a DeepStar® project award to study the deployment and operational requirements of utilizing OPT’s PB3 PowerBuoy® to provide remotely controllable zero carbon power for deepwater subsea oil production applications.

The stocks have a year to date performance of 151.72 percent and weekly performance of 29.59 percent. The stock has been moved at 376.29 percent over the last six months. The stock has performed 1.39 percent around the most recent 30 days and changed 92.11 percent over the most recent 3-months.

If compared to the average trading volume of 9.99M shares, OPTT reached to a volume of 12441265 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 0.23, with the Price to Sales ratio for OPTT stock in the period of the last 12 months amounting to 30.50. The Price to Book ratio for the last quarter was 3.37, with the Price to Cash per share for the same quarter was set at 0.50.

OPTT stock trade performance evaluation

Ocean Power Technologies Inc. [OPTT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 29.59. With this latest performance, OPTT shares gained by 1.39% in over the last four-week period, additionally plugging by 376.29% over the last 6 months – not to mention a rise of 116.83% 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 64.22, with the RSI for the last a single of trading hit 70.48, and the three-weeks RSI is set at 60.10 for Ocean Power Technologies Inc. [OPTT]. The present Moving Average for the last 50 days of trading for this stock 1.67, while it was recorded at 1.97 for the last single week of trading, and 0.92 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 4.60 and a Current Ratio set at 4.60.

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

There are presently around $0 million, or 0.80% of OPTT stock, in the hands of institutional investors. The top three institutional holders of OPTT stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 88,031, which is approximately -28.184% of the company’s market cap and around 0.06% of the total institutional ownership; VIRTU FINANCIAL LLC, holding 29,203 shares of the stock with an approximate value of $64000.0 in OPTT stocks shares; and CITADEL ADVISORS LLC, currently with $63000.0 in OPTT stock with ownership of nearly New of the company’s market capitalization.

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Positions in Ocean Power Technologies Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 7 institutional holders increased their position in Ocean Power Technologies Inc. [NASDAQ:OPTT] by around 84,642 shares. Additionally, 6 investors decreased positions by around 49,407 shares, while 5 investors held positions by with 57,966 shares. The mentioned changes placed institutional holdings at 192,015 shares, according to the latest SEC report filing. OPTT stock had 6 new institutional investments in for a total of 82,641 shares, while 4 institutional investors sold positions of 14,759 shares during the same period.

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