The stock of Ocean Power Technologies Inc (NASDAQ:OPTT) is a huge mover today! About 416,319 shares traded hands. Ocean Power Technologies Inc (NASDAQ:OPTT) has declined 8.82% since April 4, 2016 and is downtrending. It has underperformed by 9.91% the S&P500.
The move comes after 7 months positive chart setup for the $12.25M company. It was reported on Nov, 4 by Barchart.com. We have $5.13 PT which if reached, will make NASDAQ:OPTT worth $16.17 million more.
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: Finance.Yahoo.com which released: “Ocean Power Technologies, Inc. Announces Closing of Common Stock Offering” on October 19, 2016, also Fortune.com with their article: “This Wave-Power Company’s Stock Jumped 75%” published on July 16, 2016, Reuters.com published: “BRIEF-Ocean Power Technologies Inc. announces pricing of common stock offe…” on October 14, 2016. More interesting news about Ocean Power Technologies Inc (NASDAQ:OPTT) were released by: 247Wallst.com and their article: “Ocean Power Technologies Announces Pricing for Secondary Offering” published on October 15, 2016 as well as Thestreet.com‘s news article titled: “Why Ocean Power Technologies (OPTT) Stock Is Spiking Today” with publication date: July 15, 2016.
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