Ocean Power Technologies [AMEX: OPTT] plunged by -$0.07 during the normal trading session on while it closed the day at $0.92.
Ocean Power Technologies stock has also loss -20.27% of its value over the past 7 days. However, OPTT stock has inclined by 473.06% in the 3 months of the year. Over the past six months meanwhile, it has gained 145.82% and lost -10.11% year-on date.
The market cap for OPTT stock reached $133.98 million, with 146.13 million shares outstanding and 132.16 million shares in the current float. Compared to the average trading volume of 39.69M shares, OPTT reached a trading volume of 18194920 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 [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 0.22, with the Price to Sales ratio for OPTT stock in the period of the last 12 months amounting to 18.92. The Price to Book ratio for the last quarter was 5.16, with the Price to Cash per share for the same quarter was set at 0.01.
OPTT stock trade performance evaluation
Ocean Power Technologies [OPTT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.27. With this latest performance, OPTT shares gained by 186.53% in over the last four-week period, additionally plugging by 145.82% over the last 6 months – not to mention a rise of 206.96% 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 54.79, with the RSI for the last a single of trading hit 51.95, and the three-weeks RSI is set at 56.34 for Ocean Power Technologies [OPTT]. The present Moving Average for the last 50 days of trading for this stock 0.4799, while it was recorded at 0.8827 for the last single week of trading, and 0.2754 for the last 200 days.
Ocean Power Technologies [OPTT]: An insightful look at the core fundamentals
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.
Ocean Power Technologies [OPTT]: Institutional Ownership
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%.
