The trading price of Ocean Power Technologies Inc. (AMEX:OPTT) closed lower on Friday, August 06, closing at $1.92, -0.52% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $1.88 and $2.03. In examining the 52-week price action we see that the stock hit a 52-week high of $7.30 and a 52-week low of $0.79. Over the past month, the stock has lost -17.60% in value.
Ocean Power Technologies Inc., whose market valuation is $101.20 million at the time of this writing, is expected to release its quarterly earnings report Sep 13, 2021 – Sep 17, 2021. Investors’ optimism about the company’s current quarter earnings report is understandable.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Ocean Power Technologies Inc. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest OPTT has a 100% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned OPTT a recommendation rating is 1. Out of them, 1 rate it a Hold, while 0 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Ocean Power Technologies Inc. (OPTT) as Underweight, while 0 advise Sell. Analysts have rated the stock Hold, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that OPTT’s price is currently -4.17% off the SMA20 and -16.58% off the SMA50. The RSI metric on the 14-day chart is currently showing 39.82, and weekly volatility stands at 5.77%. When measured over the past 30 days, the indicator reaches 6.46%. Ocean Power Technologies Inc. (AMEX:OPTT)’s beta value is currently sitting at 2.13, while the Average True Range indicator is currently displaying 0.15. With analysts defining $1200.00-$1200.00 as the low and high price targets, we arrive at a consensus price target of $1200.00 for the trailing 12-month period. The current price is about -62400.0% off the estimated low and -62400.0% off the forecast high, based on this estimate. Investors will be thrilled if OPTT’s share price rises to $1200.00, which is the median consensus price. At that level, OPTT’s share price would be -62400.0% below current price.
To see how Ocean Power Technologies Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: OPTT stock’s performance was -0.52% in the latest trading, and 69.91% in the past year. Ocean Power Technologies Inc. has a P/E ratio of 0. Also in last trading session, the S&P 500 Index has surged 0.17%, while the Dow Jones Industrial also saw a positive session, up 0.41% on the day.
An evaluation of the daily trading volume of Ocean Power Technologies Inc. (AMEX:OPTT) indicates that the 3-month average is 2.21 million.
Currently, records show that 50.99 million of the company’s shares remain outstanding. The insiders hold 0.10% of outstanding shares, whereas institutions hold 7.30%. However, since the stock’s price has seen -28.62% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.