Ocean Power Technologies (OPTT): What Makes The Stock Attractive?

Ocean Power Technologies (AMEX:OPTT) has a beta value of 2.63 and has seen 79.22 million shares traded in the last trading session. The company, currently valued at $258.56M, closed the last trade at $1.61 per share which meant it gained $0.5 on the day or 45.05% during that session. The OPTT stock price is 14.91% off its 52-week high price of $1.37 and 92.55% above the 52-week low of $0.12. If we look at the company’s 10-day average daily trading volume, we find that it stood at 77.66 million shares traded. The 3-month trading volume is 34.85 million shares.

Ocean Power Technologies (AMEX:OPTT) trade information

Sporting 45.05% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the OPTT stock price touched $1.61 or saw a rise of 8.0%. Year-to-date, Ocean Power Technologies shares have moved 57.84%, while the 5-day performance has seen it change 237.67%. Over the past 30 days, the shares of Ocean Power Technologies (AMEX:OPTT) have changed 291.25%. Short interest in the company has seen 10.56 million shares shorted with days to cover at 0.38.

Ocean Power Technologies (OPTT) estimates and forecasts

The company’s shares have gained 302.40% over the past 6 months.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 45.31% over the past 5 years.

OPTT Dividends

Ocean Power Technologies is expected to release its next earnings report in February this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

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

Insiders own 2.92% of the company shares, while shares held by institutions stand at 3.41% with a share float percentage of 3.52%. Investors are also buoyed by the number of investors in a company, with Ocean Power Technologies having a total of 41.0 institutions that hold shares in the company. The top two institutional holders are VANGUARD GROUP INC with over 1.76 million shares worth more than $0.34 million. As of 2024-06-30, VANGUARD GROUP INC held 2.9894% of shares outstanding.

The other major institutional holder is BLACKROCK INC., with the holding of over 0.58 million shares as of 2024-06-30. The firm’s total holdings are worth over $0.11 million and represent 0.9809% of shares outstanding.