Ocean Power Technologies Inc. (AMEX: OPTT) Is A Chance For Risk-Tolerant Investors – Marketing Sentinel
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Ocean Power Technologies Inc. (AMEX: OPTT) Is A Chance For Risk-Tolerant Investors

Ocean Power Technologies Inc. (AMEX:OPTT)’s traded shares stood at 1.03 million during the last session, with the company’s beta value hitting 2.13. At the close of trading, the stock’s price was $1.92, to imply an increase of 1.05% or $0.02 in intraday trading. The OPTT share’s 52-week high remains $7.30, putting it -280.21% down since that peak but still an impressive 58.85% since price per share fell to its 52-week low of $0.79. The company has a valuation of $107.54M, with an average of 0.98 million shares in intraday trading volume over the past 10 days and average of 2.13 million shares over the past 3 months.

Analysts have given a consensus recommendation of a Hold for Ocean Power Technologies Inc. (OPTT), translating to a mean rating of 3.00. Of 1 analyst(s) looking at the stock, 0 analyst(s) give OPTT a Sell rating. 0 of those analysts rate the stock as Overweight while 1 advise Hold as 0 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.

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Ocean Power Technologies Inc. (AMEX:OPTT) trade information

After registering a 1.05% upside in the last session, Ocean Power Technologies Inc. (OPTT) has traded red over the past five days. The stock hit a weekly high of 2.0300 this Thursday, 09/16/21, jumping 1.05% in its intraday price action. The 5-day price performance for the stock is -2.54%, and 1.05% over 30 days. With these gigs, the year-to-date price performance is -28.62%. Short interest in Ocean Power Technologies Inc. (AMEX:OPTT) saw shorts transact 4.38 million shares and set a 1.7 days time to cover.

Analysts on Wall Street suggest a consensus price target of $1200.00, implying an increase of 99.84% to the stock’s current value. The extremes give us $1200.00 and $1200.00 for target low and target high price respectively. As such, OPTT has been trading -62400.0% off suggested target high and -62400.0% from its likely low.

Ocean Power Technologies Inc. (OPTT) estimates and forecasts

OPTT Dividends

Ocean Power Technologies Inc. has its next earnings report out on March 09. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Ocean Power Technologies Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Ocean Power Technologies Inc. (AMEX:OPTT)’s Major holders

Ocean Power Technologies Inc. insiders hold 0.03% of total outstanding shares, with institutional holders owning 3.75% of the shares at 3.75% float percentage. In total, 3.75% institutions holds shares in the company, led by Blackrock Inc. As of Dec 30, 2020, the company held over 0.88 million shares (or 1.73% of shares), all amounting to roughly $2.37 million.

The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 0.57 million shares, or about 1.12% of shares outstanding. As of the market price on Dec 30, 2020, these shares were worth $1.54 million.

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We also have Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund as the top two Mutual Funds with the largest holdings of the Ocean Power Technologies Inc. (OPTT) shares. Going by data provided on Dec 30, 2020, Vanguard Extended Market Index Fund holds roughly 0.55 million shares. This is just over 1.07% of the total shares, with a market valuation of $1.47 million. Data from the same date shows that the other fund manager holds a little less at 0.13 million, or 0.26% of the shares, all valued at about 0.49 million.

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