In yesterday’s Wall Street session, Ocean Power Technologies (AMEX:OPTT) shares traded at $0.19, up 4.57% from the previous session.
OPTT stock price is now -14.34% away from the 50-day moving average and -39.21% away from the 200-day moving average. The market capitalization of the company currently stands at $11.42M.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
On May 09, 2013, Ascendiant Capital Markets recently initiated its ‘Strong Buy’ rating on the stock quoting a target price of $5, while ‘UBS’ rates the stock as ‘Buy’
In other news, Slaiby Peter E., Director bought 25,000 shares of the company’s stock on Sep 28 ’23. The stock was bought for $9,750 at an average price of $0.39. Upon completion of the transaction, the Director now directly owns 96,577 shares in the company, valued at $18349.63. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 18 ’23, Senior VP and CFO Powers Robert Patrick bought 12,345 shares of the business’s stock. A total of $4,950 was incurred on buying the stock at an average price of $0.40. This leaves the insider owning 28,888 shares of the company worth $5488.72. A total of 5.84% of the company’s stock is owned by insiders.
During the past 12 months, Ocean Power Technologies has had a low of $0.18 and a high of $0.77. As of last week, the company has a debt-to-equity ratio of 0.11, a current ratio of 2.49, and a quick ratio of 2.00. The fifty day moving average price for OPTT is $0.223 and a two-hundred day moving average price translates $0.31485 for the stock.
The latest earnings results from Ocean Power Technologies (AMEX: OPTT) was released for 2024-01-31. The net profit margin was -614.25% and return on equity was -77.49% for OPTT. The company reported revenue of $1.79 million for the quarter, compared to $0.73 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 144.14 percent.
Ocean Power Technologies(OPTT) Company Profile
Ocean Power Technologies, Inc. develops and commercializes proprietary power platforms that generate electricity by harnessing the renewable energy of ocean waves in North America, South America, Australia, and Asia. It offers PB3 PowerBuoy that generates power for use independent of the power grid in offshore locations. The company also provides Next Generation PowerBuoy; subsea battery systems; and software, controls, sensors, integration services, and marine installation services. In addition, it offers Wave Adaptive Modular Vessel (WAM-V) technology, which enables roaming capabilities for uncrewed maritime systems in waters; leases WAM-V robotics and access information; maritime domain awareness solutions; and strategic consulting services. Further, the company provides offshore data collection, integration, analytics, and real time communication for various applications. It serves public and private entities, and agencies that require remote offshore power. Ocean Power Technologies, Inc. was incorporated in 1984 and is headquartered in Monroe Township, New Jersey.
