Ocean Power Technologies (OPTT) expanding its growth trajectory ahead

With 1.74 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.64 million shares. During the session, the Specialty Industrial Machinery company that operates in wider Industrials sector, reached to the highest price of $0.23 whereas the lowest price it dropped to was $0.1846. The 52-week range on OPTT shows that it touched its highest point at $0.77 and its lowest point at $0.18 during that stretch. It currently has a 1-year price target of $60.00. Beta for the stock currently stands at 2.12.

Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of OPTT was down-trending over the past week, with a drop of -0.53%, but this was down by -10.38% over a month. Three-month performance dropped to -45.04% while six-month performance fell -30.00%. The stock lost -62.65% in the past year, while it has lost -40.19% so far this year.

Float and Shares Shorts:

At present, 56.26 million OPTT shares are outstanding with a float of 55.99 million shares on hand for trading. On 2024-04-30, short shares totaled 2.84 million, which was 478.0 higher than short shares on 1711584000. In addition to Dr. Philipp Stratmann as the firm’s CEO, President & Director, Mr. Robert Patrick Powers serves as its Senior VP, CFO & Principal Accounting Officer.

Institutional Ownership:

Through their ownership of 0.06374 of OPTT’s outstanding shares, institutional investors have minority control over the company.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on 2024-01-31, OPTT reported revenue of $1792000.0 and operating income of -$7738000.0. The EBITDA in the recently reported quarter was -$7227000.0 and diluted EPS was -$0.11.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for OPTT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential.