Ocean Power Technologies Inc. [OPTT] is 10.04% higher this YTD. Is it still time to buy?

Ocean Power Technologies Inc. [AMEX: OPTT] price surged by 20.33 percent to reach at $0.5. The company report on June 23, 2021 that Ocean Power Technologies Added to Russell Microcap® Index.

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Ocean Power Technologies, Inc. (“OPT” or the “Company”) (NYSE American: OPTT), a leader in innovative and cost-effective low carbon ocean energy solutions, announced the Company’s addition to the Russell Microcap® Index, effective after the market opens on June 28, 2021. FTSE Russell disclosed OPT’s inclusion in its annual reconstitution additions.

“OPT’s inclusion in the Russell Microcap® Index is testament to the Company’s growth potential,” stated Philipp Stratmann, President and CEO of OPT. “We believe that the awareness of being included in Russell indexes will not only benefit our existing shareholders but will lead to greater exposure to potential institutional investors.”.

A sum of 45451200 shares traded at recent session while its average daily volume was at 2.39M shares. Ocean Power Technologies Inc. shares reached a high of $3.28 and dropped to a low of $2.60 until finishing in the latest session at $2.96.

Guru’s Opinion on 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 0.21, with the Price to Sales ratio for OPTT stock in the period of the last 12 months amounting to 104.49. The Price to Book ratio for the last quarter was 1.28, with the Price to Cash per share for the same quarter was set at 1.88.

OPTT Stock Performance Analysis:

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 16.08. With this latest performance, OPTT shares gained by 27.04% in over the last four-week period, additionally plugging by 10.04% over the last 6 months – not to mention a rise of 322.25% 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 65.95, with the RSI for the last a single of trading hit 71.55, and the three-weeks RSI is set at 61.01 for Ocean Power Technologies Inc. [OPTT]. The present Moving Average for the last 50 days of trading for this stock 2.41, while it was recorded at 2.61 for the last single week of trading, and 2.75 for the last 200 days.

Insight into Ocean Power Technologies Inc. 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 Position Details

There are presently around $11 million, or 7.50% of OPTT stock, in the hands of institutional investors. The top three institutional holders of OPTT stocks are: MORGAN STANLEY with ownership of 1,047,652, which is approximately 9524009.091% of the company’s market cap and around 0.03% of the total institutional ownership; BLACKROCK INC., holding 712,047 shares of the stock with an approximate value of $2.11 million in OPTT stocks shares; and BANK OF AMERICA CORP /DE/, currently with $1.63 million in OPTT stock with ownership of nearly 9203033.333% 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 July and at the time of the July reporting period, where 33 institutional holders increased their position in Ocean Power Technologies Inc. [AMEX:OPTT] by around 2,172,790 shares. Additionally, 10 investors decreased positions by around 265,472 shares, while 5 investors held positions by with 1,361,034 shares. The mentioned changes placed institutional holdings at 3,799,296 shares, according to the latest SEC report filing. OPTT stock had 22 new institutional investments in for a total of 462,748 shares, while 6 institutional investors sold positions of 72,682 shares during the same period.

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