During the last session, Ocean Power Technologies, Inc. (NASDAQ:OPTT)’s traded shares were 1,566,307, with the beta value of the company hitting 2.76. At the end of the trading day, the stock’s price was $3.01, reflecting an intraday loss of -4.14% or -$0.13. The 52-week high for the OPTT share is $7.3, that puts it down -142.53% from that peak though still a striking +89.04% gain since the share price plummeted to a 52-week low of $0.33. The company’s market capitalization is $160.1 Million, and the average intraday trading volume over the past 10 days was 3.72 Million shares, and the average trade volume was 10.16 Million shares over the past three months.
Ocean Power Technologies, Inc. (OPTT) received a consensus recommendation of Hold from analysts. That translates to a mean rating of 3. OPTT has a Sell rating from none of the analyst(s) out of 1 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while none of them suggest Overweight, and no one recommend a Buy rating for it. None of the analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.
Ocean Power Technologies, Inc. (NASDAQ:OPTT): Trading Information
Ocean Power Technologies, Inc. (OPTT) registered a -4.14% downside in the last session and has traded in the green over the past 5 sessions. The stock spiked 12.5% in intraday trading to $3.44- this Wednesday, Mar 31, hitting a weekly high. The stock’s 5-day price performance is 0.33%, and it has moved by 13.58% in 30 days. Based on these gigs, the overall price performance for the year is 11.9%. The short interest in Ocean Power Technologies, Inc. (NASDAQ:OPTT) is 4.13 Million shares and it means that shorts have 0.41 day(s) to cover.
The consensus price target of analysts on Wall Street is $1200, which implies an increase of 39767.11% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1200 and $1200 respectively. As a result, OPTT is trading at a discount of 39767.11% off the target high and 39767.11% off the low.
Ocean Power Technologies, Inc. (OPTT) projections and forecasts
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 60.5%. While earnings are projected to return 84.9% in 2021, the next five years will return 0% per annum.
Ocean Power Technologies, Inc. (NASDAQ:OPTT)’s Biggest Investors
Ocean Power Technologies, Inc. insiders own 0.03% of total outstanding shares while institutional holders control 3.71%, with the float percentage being 3.71%. Blackrock Inc. is the largest shareholder of the company, while 27 institutions own stock in it. As of Dec 30, 2020, the company held over 880.01 Thousand shares (or 1.73% of all shares), a total value of $2.37 Million in shares.
The next largest institutional holding, with 572.99 Thousand shares, is of Vanguard Group, Inc. (The)’s that is approximately 1.12% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $1.54 Million.
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Also, the Mutual Funds coming in first place with the largest holdings of Ocean Power Technologies, Inc. (OPTT) shares are Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund. Data provided on Dec 30, 2020 indicates that Vanguard Extended Market Index Fund owns about 547,351 shares. This amounts to just over 1.07 percent of the company’s overall shares, with a $1.47 Million market value. The same data shows that the other fund manager holds slightly less at 133.11 Thousand, or about 0.26% of the stock, which is worth about $488.52 Thousand.