How Will Ocean Power Technologies Inc. (AMEX: OPTT) Look After It Drops -375.36% From Its Highs? – Marketing Sentinel
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How Will Ocean Power Technologies Inc. (AMEX: OPTT) Look After It Drops -375.36% From Its Highs?

During the last session, Ocean Power Technologies Inc. (AMEX:OPTT)’s traded shares were 2.22 million, with the beta value of the company hitting 1.70. At the end of the trading day, the stock’s price was $0.69, reflecting an intraday gain of 17.11% or $0.1. The 52-week high for the OPTT share is $3.28, that puts it down -375.36 from that peak though still a striking 27.54% gain since the share price plummeted to a 52-week low of $0.50. The company’s market capitalization is $40.94M, and the average trade volume was 490.64K shares over the past three months.

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

Ocean Power Technologies Inc. (OPTT) registered a 17.11% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 17.11% in intraday trading to $0.69 this Thursday, 06/23/22, hitting a weekly high. The stock’s 5-day price performance is 17.37%, and it has moved by -31.00% in 30 days. Based on these gigs, the overall price performance for the year is -73.86%.

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The consensus price target of analysts on Wall Street is $1200.00, which implies an increase of 99.94% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1200.00 and $1200.00 respectively. As a result, OPTT is trading at a discount of -173813.04% off the target high and -173813.04% off the low.

Ocean Power Technologies Inc. (OPTT) estimates and forecasts

In the rating firms’ projections, revenue will increase 3,925.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $20.57 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $20.57 million by the end of Oct 2019. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $511k and $511k respectively. In this case, analysts expect current quarter sales to grow by 3,925.40% and then jump by 3,925.40% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 67.90%. While earnings are projected to return 65.80% in 2022.

OPTT Dividends

Ocean Power Technologies Inc. is due to release its next quarterly earnings between March 03 and March 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Ocean Power Technologies Inc. insiders own 0.05% of total outstanding shares while institutional holders control 13.55%, with the float percentage being 13.56%. State Street Corporation is the largest shareholder of the company, while 47 institutions own stock in it. As of Dec 30, 2021, the company held over 2.62 million shares (or 5.13% of all shares), a total value of $3.87 million in shares.

The next largest institutional holding, with 2.25 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 4.42% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $3.33 million.

Also, the Mutual Funds coming in first place with the largest holdings of Ocean Power Technologies Inc. (OPTT) shares are SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF and Vanguard Total Stock Market Index Fund. Data provided on Jan 30, 2022 indicates that SPDR (R) Ser Tr-SPDR� Kensho New Economies Composite ETF owns about 2.48 million shares. This amounts to just over 4.87 percent of the company’s overall shares, with a $2.81 million market value. The same data shows that the other fund manager holds slightly less at 1.44 million, or about 2.82% of the stock, which is worth about $2.13 million.

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