Ocean Power Technologies (AMEX:OPTT) price on Thursday, July 24, fall -10.17% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $0.75.
A look at the stock’s price movement, the close in the last trading session was $0.84. Turning to its 52-week performance, $1.75 and $0.14 were the 52-week high and 52-week low respectively. Overall, OPTT moved 50.62% over the past month.
Ocean Power Technologies’s market cap currently stands at around $130.36 million, with investors looking forward to this quarter’s earnings report slated for in August.
Turning to the stock’s technical picture we see that short term indicators suggest on average that OPTT is a 100% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
OPTT’s current price about 26.25% and 35.72% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 65.84, while 7-day volatility ratio is 12.60% and 9.81% in the 30-day chart. Further, Ocean Power Technologies (OPTT) has a beta value of 2.68.
If we refocus on Ocean Power Technologies (AMEX:OPTT), historical trading data shows that trading volumes averaged 4.96 million over the past 3 months. The company’s latest data on shares outstanding shows there are 170.00 million shares.
The 10.99% of Ocean Power Technologies’s shares are in the hands of company insiders while institutional holders own 8.26% of the company’s shares. Current price change has pushed the stock 139.94% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the OPTT stock continues to rise going into the next quarter.
