Now Is The Time To Build A Position In Ocean Power Technologies (AMEX:OPTT)

In the last trading session, 10.33 million Ocean Power Technologies (AMEX:OPTT) shares changed hands as the company’s beta touched 2.48. With the company’s per share price at $0.61 changed hands at $0.1 or 20.12% during last session, the market valuation stood at $89.51M. OPTT’s last price was a discount, traded about -186.89% off its 52-week high of $1.75. The share price had its 52-week low at $0.12, which suggests the last value was 80.33% up since then. When we look at Ocean Power Technologies’s average trading volume, we note the 10-day average is 4.99 million shares, with the 3-month average coming to 25.30 million.

Ocean Power Technologies (AMEX:OPTT) trade information

Instantly OPTT was in green as seen at the end of in last trading. With action 35.23%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -39.94%, with the 5-day performance at 35.23% in the green. However, in the 30-day time frame, Ocean Power Technologies (AMEX:OPTT) is -22.94% down. Looking at the short shares, we see there were 8.06 million shares sold at short interest cover period of 0.81 days.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 45.31%.

OPTT Dividends

Ocean Power Technologies is expected to release its next quarterly earnings report in April.

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

If we look at who the major shareholders are, we find that insiders hold 2.53% of Ocean Power Technologies shares while 6.15% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 6.31%. There are 6.15% institutions holding the Ocean Power Technologies stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 2.9894% of the shares, roughly 1.76 million OPTT shares worth $0.34 million.

BLACKROCK INC. holds the second largest percentage of outstanding shares, with 0.9809% or 0.58 million shares worth $0.11 million as of 2024-06-30.

Among Mutual Funds, the top two as of Dec 31, 2024 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund . With 1.0 shares estimated at $0.61 million under it, the former controlled 1.96% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 1.48% of the shares, roughly 753.87 shares worth around $0.46 million.