Ocean Power Technologies Inc. (NASDAQ:OPTT) went down by -5.64% during the previous trading session, and it is maintaining the win ahead of Thursday’s trading session. The share price of the Electrical Equipment & Parts giant went up by $0.77 to trade ended Thursday trading at $0.82. This is down from the $0.816 price recorded on Wednesday’s trading session. Thanks to this latest performance, OPTT is closer to the higher price 52-week target of $1200.00 and further from the lowest price target of $1200.00. Its performance from the start of the year has also been negative, with OPTT down by -11.49% year-to-date.
Ocean Power Technologies Inc. (OPTT) started the day trading at $0.823 and recorded an intraday high of $0.829. It also recorded an intraday low of $0.72 during Thursday’s trading session. Ocean Power Technologies Inc. is a very active stock that recorded a trading volume that is less than -5.63% of the average daily trading volume on Thursday. The stock’s trading volume on Thursday was 1524183, which is less than -5.63 of the total average daily trading volume of 1.61 million.
Ocean Power Technologies Inc. (NASDAQ:OPTT) 2020 Performance Impressive
The increase in OPTT’s stock price on Thursday saw its overall performance boost over the past few months. We can quantify the performance of the stock so far this year using a few metrics. The 52-week high price of OPTT currently stands at $2.58, which is higher than the current trading price of the stock by 70.16%. However, OPTT’s current trading price is -133.33% lower than the 52-week low price of $0.33. In terms of trading volume, Ocean Power Technologies Inc. currently experienced healthy participation during the last trading session. 1524183 shares of Ocean Power Technologies Inc. were traded on the stock exchange on Thursday, which is less than -5.63% of the 1.61 million average trading volume of the stock.
The performance of the stock has been positive over the past year. OPTT’s performance over the past one year has seen it plunge by -63.68%, while the stock has gone down by -6.88% in the last six months. The quarterly performance of OPTT currently stands at 108.96%, and it is up by 85.45% in the last month. The only positive figure was from the weekly performance, which currently reads 61.09%. At the time of writing OPTT’s report, the company has a total market cap of $6.68M, making it one of the largest publicly-traded companies in the world.Ocean Power Technologies Inc. also has over 29 employees all over the world.
OPTT Insider Activities
For Ocean Power Technologies Inc., insiders hold 2.20% of all company shares. The insider transactions over the past six months are down by 0.00%. During that period, insiders bought 0 shares in 0 transactions. In that same period, insiders sold 0 of their shares in 0 transactions. After these transactions, insiders at Ocean Power Technologies Inc. now hold 14.23k shares, which is over 2.52% of the total company stocks. Institutional investors currently hold a large chunk of the OPTT shares, as they control 0.15% of the company’s total stock.
OPTT Fundamental Analysis
For Ocean Power Technologies Inc., the stock’s diluted earnings per share (EPS) stands at -4.80. The stock’s EPS growth this year is 28.10%, 44.60% in the previous five years. In terms the average annual revenue of 44.60% over the past half a decade.
The Return on Investment (ROI) on Ocean Power Technologies Inc.’s stock currently stands at -78.60%. The gross margin of the company is -36.00%.
OPTT Analysts Prediction
Another analyst that has a Buy rating for OPTT is UBS, which set a price target of between $19 and $14. and UBS reiterate their Buy position on the stock ($20 and $19).
UBS and B. Riley & Co also believe that Ocean Power Technologies Inc.’s stock is outperforming at the moment.
OPTT Technical Analysis
The Simple Moving Average (SMA) is one of the most powerful technical indicators. The 20-day Simple Moving Average of OPTT currently stands at 53.30%, while the SMA50 is 70.15%. The biggest one is the SMA200, which is currently reading -15.68% ahead of Thursday’s trading session. The Relative Strength Index of this stock is 69.45.