Geometry Dash APK Hill Climb Racing APK
77.5 F
New York
Thursday, September 23, 2021

Ocean Power Technologies Inc. (NASDAQ:OPTT) is Holding Steady

Must read

Medmen Enterprises Inc (OTCMKTS:MMNFF) Pulls Back From Highs as Buzz Cools Off

Among the sectors which have bounced back in 2021, the cannabis sector is one of considerable interest since it had been in...

VirtualArmour International Inc (OTCMKTS:VTLR) Jumps Another 250% This Week

Not every move in the stock market can always be explained and hence, investors are often rightly confused when a stock records...

Ozop Energy Solutions Inc (OZSC) is Riding a Green Wave of Momentum

Investors who are looking for fresh opportunities in rising stocks may have a lot to choose from at this point but it...

Drone Delivery Canada Corp (OTCMKTS:TAKOF) is Soaring after Roadmap Update

The drone industry has grown at a remarkable rate over the past five years or so and hence, it is no surprise...

Ocean Power Technologies Inc. (OPTT) shares are trading at higher $2.47 and the avg recommendation for the stock is Hold.

To add more color to this target, the company’s high over the last year is $3.72 and the low is $0.33. Over the last 52 weeks, OPTT is up 47.90% while the S&P 500 is up 16.45%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, OPTT reported a profit of $-0.17 million. Ocean Power Technologies Inc. also saw revenues decrease to $0.17 million. In addition, OPTT has free cash flow of -$2.74 million as of 07-2020. The company’s EBITDA came in at -$3.31 million which compares well with its peers.

OPTT Return on Equity (ROE) is -104.20%, and its Return on Assets is -75.20%. All told, it is clear that, OPTT needs to be on your watchlist.

Find out when OPTT reaches critical levels. Subscribe to Right Now by entering your Email in the box below.

Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. OPTT has a short ratio of 0.01 and outstanding shares of 18.62M.

Company Outlook

OPTT has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 56.27 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -1.32. Ocean Power Technologies Inc. OPTT also noted assets of $14.4 million at the end of the last quarter. Investors should also keep an eye on sector updates as OPTT has historically followed its peers on positive news.

All told, Ocean Power Technologies Inc. OPTT has strung together solid data and demonstrated underlying fundamentals. At its current valuation, OPTT represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Ocean Power Technologies Inc. OPTT is now commanding a market cap of 35.17M and a float of 18.49M. OPTT is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of OPTT stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in OPTT, either long or short, and we have not been compensated for this article.

Latest article

88 Energy Ltd (OTCMKTS:EEENF) Stock Surges 40% But Can’t Hold Gains

The oil and gas company 88 Energy Ltd (OTCMKTS:EEENF) seems to have come back on to the radars of investors over the...

Net Savings Link Inc (OTCMKTS:NSAV) Stock is Getting Pummeled Again

Nowadays there are plenty of options for investors when it comes to making investments in the cryptocurrency and...

Net Savings Link Inc (OTCMKTS:NSAV) Goes Parabolic Ahead of Important Event

As far as cryptocurrency and blockchain companies are concerned, there are many options nowadays for investors to explore.

Dark Pulse Inc (OTCMKTS:DPLS) Stock Moves in a Range After The Big Rally

The laser sensing system company Dark Pulse Inc (OTCMKTS:DPLS) has emerged as one of the major gainers over the course of the...

Halberd Corporation (OTCMKTS:HALB) Stock Doubles After ‘Proof of Concept’ News

Investors are always on the lookout for stocks which managed to record handsome gains over a short of period of time and...
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet. Affordable best sms verification service