Saturday, April 10, 2021

Ocean Power Technologies Inc. [OPTT] Is Currently -8.14 below its 200 Period Moving Avg: What Dose This Mean?

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Ocean Power Technologies Inc. [NASDAQ: OPTT] closed the trading session at $3.16 on 03/23/21. The day’s price range saw the stock hit a low of $3.12, while the highest price level was $3.43. The company report on March 9, 2021 that Ocean Power Technologies, Inc. to Host Earnings Call.

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Ocean Power Technologies, Inc. (NASDAQ:OPTT) will be discussing their earnings results in their 2021 Third Quarter Earnings call to be held on March 9, 2021 at 11:00 AM Eastern Time.


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To listen to the event live or access a replay of the call – visit https://www.investornetwork.com/event/presentation/75496.

The stocks have a year to date performance of 17.47 percent and weekly performance of -12.22 percent. The stock has been moved at 247.44 percent over the last six months. The stock has performed -23.86 percent around the most recent 30 days and changed 23.44 percent over the most recent 3-months.

If compared to the average trading volume of 10.18M shares, OPTT reached to a volume of 3457524 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OPTT shares is $6.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OPTT stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 0.46, with the Price to Sales ratio for OPTT stock in the period of the last 12 months amounting to 129.01. The Price to Book ratio for the last quarter was 1.36, with the Price to Cash per share for the same quarter was set at 1.63.

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 -12.22. With this latest performance, OPTT shares dropped by -23.86% in over the last four-week period, additionally plugging by 247.44% over the last 6 months – not to mention a rise of 803.12% 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 41.29, with the RSI for the last a single of trading hit 38.16, and the three-weeks RSI is set at 43.80 for Ocean Power Technologies Inc. [OPTT]. The present Moving Average for the last 50 days of trading for this stock 4.07, while it was recorded at 3.48 for the last single week of trading, and 2.17 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 24.50 and a Current Ratio set at 24.50.

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

There are presently around $6 million, or 3.70% of OPTT stock, in the hands of institutional investors. The top three institutional holders of OPTT stocks are: BLACKROCK INC. with ownership of 880,006, which is approximately 5866606.667% of the company’s market cap and around 0.05% of the total institutional ownership; VANGUARD GROUP INC, holding 572,992 shares of the stock with an approximate value of $1.81 million in OPTT stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.61 million 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 March and at the time of the March reporting period, where 19 institutional holders increased their position in Ocean Power Technologies Inc. [NASDAQ:OPTT] by around 1,859,490 shares. Additionally, 7 investors decreased positions by around 193,666 shares, while 5 investors held positions by with 161,178 shares. The mentioned changes placed institutional holdings at 1,891,978 shares, according to the latest SEC report filing. OPTT stock had 16 new institutional investments in for a total of 389,384 shares, while 5 institutional investors sold positions of 184,310 shares during the same period.

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