Ocean Power Technologies (AMEX:OPTT) shares, rose in value, with the stock price down by -1.03% to the previous day’s close as strong demand from buyers drove the stock to $0.50.
Actively observing the price movement in the recent trading, the stock is buoying the session at $0.51. Referring to stock’s 52-week performance, its high was $1.75, and the low was $0.12. On the whole, OPTT has fluctuated by -45.05% over the past month.
With the market capitalization of Ocean Power Technologies currently standing at about $73.06 million, investors are eagerly awaiting this quarter’s results, scheduled for in April.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that OPTT’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of OPTT currently trading nearly -23.85% and -35.21% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 36.15, while the 7-day volatility ratio is showing 12.01% which for the 30-day chart, stands at 11.88%. Furthermore, Ocean Power Technologies (OPTT)’s beta value is 2.49, and its average true range (ATR) is 0.09.
A comparison of Ocean Power Technologies (OPTT) with its peers suggests the former has fared considerably weaker in the market. OPTT showed an intraday change of -1.03% in today’s session so far, and over the past year, it grew by 72.41%%.
Data on historical trading for Ocean Power Technologies (AMEX:OPTT) indicates that the trading volumes over the past 3 months, they’ve averaged 26.88 million. According to company’s latest data on outstanding shares, there are 146.13 million shares outstanding.
Nearly 11.00% of Ocean Power Technologies’s shares belong to company insiders and institutional investors own 6.12% of the company’s shares. The stock has fallen by -50.98% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the OPTT stock heading into the next quarter.
