Price Don’t Lie: What’s Ocean Power Technologies Inc Downside After Today’s Significant Decline?

Price Don't Lie: What's Ocean Power Technologies Inc Downside After Today's Significant Decline?

The stock of Ocean Power Technologies Inc (NASDAQ:OPTT) is a huge mover today! About 1.20 million shares traded hands. Ocean Power Technologies Inc (NASDAQ:OPTT) has risen 23.61% since March 29, 2016 and is uptrending. It has outperformed by 20.13% the S&P500.
The move comes after 5 months negative chart setup for the $12.00 million company. It was reported on Oct, 31 by Barchart.com. We have $2.07 PT which if reached, will make NASDAQ:OPTT worth $1.32M less.

According to Zacks Investment Research, “OCEAN POWER TECHNOLOGIES, Inc. is a leading renewable energy company specializing in cost effective, advanced, and environmentally sound offshore wave power technology. The electrical power generated by OPT’s technology is key to meeting the energy needs of utilities, independent power producers and the public sector. OPT’s PowerBuoy system extracts the natural energy in ocean waves, and is based on the integration of patented technologies in hydrodynamics, electronics, energy conversion and computer control systems. The PowerBuoy is a smart system capable of responding to differing wave conditions.The result is a leading edge, ocean-tested, proprietary system which generates reliable, clean, and environmentally-beneficial electricity.”

More notable recent Ocean Power Technologies Inc (NASDAQ:OPTT) news were published by: 247Wallst.com which released: “Ocean Power Technologies Announces Pricing for Secondary Offering” on October 15, 2016, also Reuters.com with their article: “BRIEF-Ocean Power Technologies Inc. announces pricing of common stock offe…” published on October 14, 2016, Fortune.com published: “This Wave-Power Company’s Stock Jumped 75%” on July 16, 2016. More interesting news about Ocean Power Technologies Inc (NASDAQ:OPTT) were released by: Thestreet.com and their article: “Why Ocean Power Technologies (OPTT) Stock Is Spiking Today” published on July 15, 2016 as well as Thestreet.com‘s news article titled: “Ocean Power Technologies (OPTT) Stock Skyrockets on Mitsui Lease Agreement” with publication date: June 01, 2016.

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