In the last trading session, 4,231,529 shares of the Ocean Power Technologies, Inc.(NASDAQ:OPTT) were traded, and its beta was 3.07. Most recently the company’s share price was $4.15, and it changed around -$0.49 or -0.11% from the last close, which brings the market valuation of the company to $129.19 Million. OPTT currently trades at a discount to its 52-week high of $7.3, offering almost -75.9% off that amount. The share price’s 52-week low was $0.33, which indicates that the current value has risen by an impressive 92.05% since then. We note from Ocean Power Technologies, Inc.’s average daily trading volume that its 10-day average is 5.2 Million shares, with the 3-month average coming to 10.97 Million.
Ocean Power Technologies, Inc. stock received a consensus recommendation rating of Hold, based on a mean score of 3. If we narrow it down even further, the data shows that none out of 1 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 1 recommended OPTT as a Hold, whereas none deemed it a Buy, and no one rated it as Underweight. Ocean Power Technologies, Inc. is expected to report earnings per share of $0 for the current quarter.
Ocean Power Technologies, Inc. (NASDAQ:OPTT): Trading Information
Although OPTT has showed a red trend with a performance of -10.56% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $5.30- on Tuesday, Feb 16 increased the stock’s daily price by 21.7%. The company’s shares are currently up 0.54% year-to-date, but still down -0.2019 over the last five days. On the other hand, Ocean Power Technologies, Inc. (NASDAQ:OPTT) is -0.26% down in the 30-day period. We can see from the shorts that 3.37 Million shares have been sold at a short interest cover period of 0.31 day(s).
The consensus price target as assigned by Wall Street analysts is $1200, which translates to bears needing to increase their stock price by 28815.66% from its current value. Analyst projections state that OPTT is forecast to be at a low of $1200 and a high of $1200. In order for the stock price to hit the forecast high, the stock would need to surge +28815.66% from its current level, while the stock would need to crash 28815.66% from its current level to reach the projected low.
Ocean Power Technologies, Inc. (OPTT) projections and forecasts
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 60.5%. Ocean Power Technologies, Inc. earnings are expected to increase by 84.9% in 2021, but the outlook is negative 0% per year for the next five years.
Ocean Power Technologies, Inc. (NASDAQ:OPTT)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 0.05% of Ocean Power Technologies, Inc. shares, and 0.99% of them are in the hands of institutional investors. The stock currently has a share float of 0.99%. Ocean Power Technologies, Inc. stock is held by 17 institutions, with Blackrock Inc. being the largest institutional investor. By Dec 30, 2020, it held 2.86% of the shares, which is about 880.01 Thousand shares worth $2.37 Million.
Vanguard Group, Inc. (The), with 1.86% or 572.99 Thousand shares worth $1.54 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
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Fidelity Extended Market Index Fund and Fidelity Total Market Index Fund were the top two Mutual Funds as of Dec 30, 2020. The former held 133112 shares worth $358.07 Thousand, making up 0.43% of all outstanding shares. On the other hand, Fidelity Total Market Index Fund held roughly 32.05 Thousand shares worth around $86.2 Thousand, which represents about 0.1% of the total shares outstanding.