Some Investing Thoughts On Ocean Power Technologies Inc. (NASDAQ: OPTT)


    After grabbing 29203.0 shares, the institutional investor is now in possession of 29203.0 shares of the Industrials Company. The new investment brought the stake of investor firm to 0.17% having worth around $24092.0. Moreover, HRT Financial LLC increased its share by 14720.0 to have a control over 14720.0 shares.

    Ocean Power Technologies Inc. (OPTT) concluded trading on 08/26/20 at a closing price of $1.20, with 2.13 million shares of worth about $2.56 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -6.98% during that period and on Wednesday the price saw a gain of about 2.56%. Currently the company’s common shares owned by public are about 17.12M shares, out of which, 16.98M shares are available for trading.

    A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 1 analysts are covering the OPTT stock and their offered price forecasts bring an average price target of $1200.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $1200.00 and could fall to a lowest price of $1200.00. Analysts also issued an outlook of 3.00 for the Ocean Power Technologies Inc. stock for next 12 months. However, touching the estimated high of $1200.00 would mean a gain of 99.9% for the stock.

    According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 0 times over the past 12 months. They bought 0 shares in 0 of the transactions. In 0 selling transactions, insiders dumped 0 shares.

    Vanguard Extended Market Index Fu, Fidelity Extended Market Index Fu, and USAA Extended Market Index Fund are the top 3 mutual funds which are holding stakes in Ocean Power Technologies Inc. Vanguard Extended Market Index Fu is currently holding 18163.0 shares of worth totaling $14984.0. The company recently came buying 0.0 shares which brought its stake up to 0.11% of the company’s outstanding shares. USAA Extended Market Index Fund, after buying 2710.0 shares, have now control over 0.02% of the stake in the company. It holds 1111.0 shares of worth $2236.0.

    Ocean Power Technologies Inc. (NASDAQ: OPTT) started trading at $1.20, above $0.03 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $1.20, or with a gain of 2.56%. Stock saw a price change of -6.98% in past 5 days and over the past one month there was a price change of 54.74%. Year-to-date (YTD), OPTT shares are showing a performance of 37.93% which decreased to -30.64% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.33 but also hit the highest price of $2.29 during that period. While comparing its average daily trading volume of 2.89 million shares, we see that about 2.13 million changed hands on the day. The stock is currently trading 8.12% above its 20-day simple moving average (SMA20), while that difference is up 35.60% for SMA50 and it goes to 64.74% higher than SMA200.

    Virtu Financial BD LLC acquired 29203.0 shares of Ocean Power Technologies Inc. having value of about $24092.0. Ocean Power Technologies Inc. (NASDAQ: OPTT) currently have 17.12M outstanding shares and institutions hold larger chunk of about 1.10% of that. Holding of mutual funds in the company is about 0.69% while other institutional holders and individual stake holders have control over 0.94% and 0.14% of the stake respectively.

    The stock has a current market capitalization of $21.98M and its 3Y-monthly beta is at 2.72. It has posted earnings per share of -$1.61 in the same period. It has Quick Ratio of 6.10 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for OPTT, volatility over the week remained 10.87% while standing at 19.21% over the month.

    Analysts are in expectations that Ocean Power Technologies Inc. (OPTT) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter ESPS is $0 and it is $0 for next year. For the current quarter EPS, analysts have given the company a lowest target $0 which is $0 at the higher side of the target for the same. Stock’s fiscal year EPS is expected to rise by 84.90%.

    Analysts at 1 brokerage firms have issued recommendations for the Ocean Power Technologies Inc. (OPTT)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.00. Out of those 1 Wall Street analysts, 0 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

    Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by H.C. Wainwright on February 25, 2015 offering a Neutral rating for the stock and assigned a target price of to it. Coverage by Ascendiant Capital Markets stated Ocean Power Technologies Inc. (OPTT) stock as a Strong buy in their note to investors on May 09, 2013, suggesting a price target of $5 for the stock. On July 17, 2008, UBS Reiterated their recommendations, while on April 07, 2008, Bear Stearns Downgrade their ratings for the stock with a price target of. Stock get a Buy rating from UBS on March 20, 2008.


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