Ocean Power Technologies [AMEX: OPTT] traded at a low on Tuesday, posting a -11.20 loss after which it closed the day’ session at $0.18.
The results of the trading session contributed to over 6560049 shares changing hands. Over the past one week, the price volatility of Ocean Power Technologies stands at 11.83% while the volatility over the past one month is 10.63%.
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The market cap for OPTT stock reached $17.64 million, with 99.32 million shares outstanding and 95.85 million shares in the current float. Compared to the average trading volume of 30.00M shares, OPTT reached a trading volume of 6560049 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Ocean Power Technologies [OPTT]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OPTT shares is $60.00 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 1.00. 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 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 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 is set at 0.03, with the Price to Sales ratio for OPTT stock in the period of the last 12 months amounting to 3.18. The Price to Book ratio for the last quarter was 0.76, with the Price to Cash per share for the same quarter was set at 0.03.
How has OPTT stock performed recently?
Ocean Power Technologies [OPTT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.53. With this latest performance, OPTT shares dropped by -10.26% in over the last four-week period, additionally sinking by -30.92% over the last 6 months – not to mention a drop of -55.31% 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 44.40, with the RSI for the last a single of trading hit 43.97, and the three-weeks RSI is set at 44.86 for Ocean Power Technologies [OPTT]. The present Moving Average for the last 50 days of trading for this stock 0.2252, while it was recorded at 0.1858 for the last single week of trading, and 0.2537 for the last 200 days.
Ocean Power Technologies [OPTT]: Deeper insight into the fundamentals
Ocean Power Technologies’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.05 and a Current Ratio set at 2.16.
Insider trade positions for Ocean Power Technologies [OPTT]
There are presently around $3.98%, or 4.13%% of OPTT stock, in the hands of institutional investors. The top three institutional holders of OPTT stocks are: VANGUARD GROUP INC with ownership of 1.76 million shares, which is approximately 2.9894%. BLACKROCK INC., holding 0.58 million shares of the stock with an approximate value of $$0.11 million in OPTT stocks shares; and BLACKROCK INC., currently with $$93686.0 in OPTT stock with ownership which is approximately 0.8126%.
