Ocean Power Technologies [AMEX: OPTT] gained 9.90% on the last trading session, reaching $1.11 price per share at the time.
If compared to the average trading volume of 34.26M shares, OPTT reached a trading volume of 37099917 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 0.15, with the Price to Sales ratio for OPTT stock in the period of the last 12 months amounting to 25.18. The Price to Book ratio for the last quarter was 6.25, with the Price to Cash per share for the same quarter was set at 0.01.
Trading performance analysis for OPTT stock
Ocean Power Technologies [OPTT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 144.98. With this latest performance, OPTT shares gained by 200.00% in over the last four-week period, additionally plugging by 207.39% over the last 6 months – not to mention a rise of 255.20% 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 84.83, with the RSI for the last a single of trading hit 90.12, and the three-weeks RSI is set at 81.09 for Ocean Power Technologies [OPTT]. The present Moving Average for the last 50 days of trading for this stock 0.3137, while it was recorded at 0.8994 for the last single week of trading, and 0.2392 for the last 200 days.
Ocean Power Technologies [OPTT]: A deeper dive into fundamental analysis
Ocean Power Technologies’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.37 and a Current Ratio set at 2.79.
An analysis of Institutional ownership at Ocean Power Technologies [OPTT]
There are presently around $3.41%, or 3.52%% 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%.
