|Bid||0.0000 x 4000|
|Ask||0.0000 x 800|
|Day's Range||1.5500 - 1.6400|
|52 Week Range||1.3600 - 16.2000|
|Beta (3Y Monthly)||1.59|
|PE Ratio (TTM)||N/A|
|Earnings Date||Sep 18, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||6.00|
Ocean Power Technologies, Inc. (OPTT), a leader in innovative ocean energy solutions, today announced the signing of two new contracts with Enel Green Power Chile (EGP), a subsidiary of Enel Chile, part of the Enel Group, a multinational energy company and a leading global integrated electricity and gas operator. The combined value of the contracts exceeds US$1.9 million and includes the sale of a PB3 PowerBuoy® and the development and supply of a state-of-the-art, turn-key integrated Open Sea Lab that will be OPT’s first deployment off the coast of Chile. The first contract with Enel Green Power Chile Limitada S.A., a subsidiary of Enel Chile, provides for the supply of a PB3 PowerBuoy® along with associated mooring system, and will provide turn-key system deployment off the coast of Las Cruces, Chile as an autonomous offshore platform powering a suite of oceanographic sensors and transmitting real-time data back to land.
This most-searched list is a feature included in Benzinga Pro's Newsfeed tool. It highlights stocks frequently searched by Benzinga Pro users on the platform. Yuma Energy (AMEX: YUMA) shares were up 5.1% ...
MONROE TOWNSHIP, N.J., Sept. 16, 2019 -- Ocean Power Technologies, Inc. (“OPT” or “the Company”) (NASDAQ: OPTT), a leader in innovative and cost-effective ocean energy.
This latest deployment of a PB3 PowerBuoy® will serve Premier as an autonomous intelligent platform to provide communications and remote monitoring services at Premier’s Huntington field in the central North Sea. During the deployment, Premier will demonstrate the PB3 PowerBuoy® capabilities, its ability to monitor the local environment and alert ships of the field’s safety zone as a potential solution to help with their future decommissioning related operations.
NEW YORK, NY / ACCESSWIRE / July 23, 2019 / Ocean Power Technologies, Inc. (NASDAQ: OPTT ) will be discussing their earnings results in their 2019 Fourth Quarter Earnings to be held on July 23, 2019 at ...
MONROE TOWNSHIP, N.J., July 22, 2019 -- Ocean Power Technologies, Inc. (“OPT” or “the Company”) (NASDAQ: OPTT), a leader in innovative and cost-effective ocean energy.
Long term investing works well, but it doesn't always work for each individual stock. We really hate to see fellow...
Ocean Power Technologies, Inc. (“OPT” or “the Company”) (OPTT), a leader in innovative and cost-effective ocean energy solutions, announced today that it will release operational and financial results for its fourth quarter and fiscal year 2019 on Monday, July 22, 2019 after the market closes. Ocean Power Technologies’ management will host a conference call and webcast to review its financial and operating results on Tuesday, July 23, 2019 at 9:00 a.m. Eastern Time. Interested parties may access the conference call by dialing 1-877-407-8291 (toll free in the U.S.) or 201-689-8345 for international callers.
Ocean Power Technologies, Inc. (OPTT) (“OPT”, or “the Company”), a leader in innovative and cost-effective ocean energy solutions, announced today that the Company has received a new U.S. patent for its Power Take-Off (PTO) System which is the mechanical heart of the PB3 PowerBuoy®. Ocean waves that pass-by the PowerBuoy® create a relative linear motion between the float and the spar components of the PB3. George H. Kirby, President and Chief Executive Officer of OPT, stated, “This new patent provides significant additional protection for our proprietary technology that enables the PowerBuoy® to be deployed and to perform autonomously in the toughest waters in the world.
MONROE TOWNSHIP, N.J., May 23, 2019 -- Ocean Power Technologies, Inc. (NASDAQ: OPTT), (“OPT”, or “the Company”) a leader in innovative and cost-effective ocean energy.
MONROE TOWNSHIP, N.J., May 21, 2019 -- Ocean Power Technologies, Inc. (NASDAQ: OPTT), (“OPT”, or “the Company”) a leader in innovative and cost-effective ocean energy.
Ocean Power Technologies, Inc. (OPTT), (“OPT”, or “the Company”) a leader in innovative and cost-effective ocean energy solutions, announced today that it will host a conference call on Thursday, May 16, 2019 at 10:00 a.m. Eastern time to provide a commercial update on its new product introductions, sales pipeline, strategic partnerships and overall blueprint for growth. The Company will provide a presentation to accompany the call which will be available on the Company’s website at www.oceanpowertechnologies.com.
Ocean Power Technologies, Inc. (OPTT), (OPT, or the Company) a leader in innovative and cost-effective ocean energy solutions, announced today that the Company's PB3 PowerBuoy® deployed in the Adriatic Sea has produced more than one MegaWatt-hour (MWh) cumulative energy to date. The PowerBuoy® has been deployed for six months, operating continuously and error-free while being controlled remotely from OPT’s NJ facility.
Ocean Power Technologies, Inc. (“OPT” or “the Company”) (OPTT), a leader in innovative and cost-effective ocean energy solutions, will be an exhibitor at the Offshore Technology Conference (OTC) 2019 from May 6-9, 2019 at the NRG Park in Houston, TX. OPT has now attended OTC, one of the largest and most-recognized offshore industry conferences, for three consecutive years. Investors, members of the media, and other interested parties are invited to drop by Booth #10945, located just outside of the Hall A entrance at the NRG Center, to speak to OPT representatives regarding their latest technology and developments.
Ocean Power Technologies, Inc. (“OPT” or “the Company”) (OPTT), a leader in innovative and cost-effective ocean energy solutions, announced today the company will be an exhibitor at the U.S. Navy League’s Sea-Air-Space Exposition at the Gaylord National Convention Center, in National Harbor, Maryland, May 6th through May 8th.
Ocean Power Technologies, Inc. (“OPT” or “the Company”) (OPTT), a leader in innovative and cost-effective ocean energy solutions, today announced the closing of its previously announced offering of common stock, pre-funded warrants and common warrants (the “Offering”). At the closing, the Company issued 900,000 shares of common stock, pre-funded warrants exercisable for 3,385,680 shares of common stock and common warrants exercisable for 4,285,680 shares of common stock. In addition, the Company issued 642,000 shares of common stock and common warrants exercisable for 642,000 shares of common stock, pursuant to the exercise, in full, of the over-allotment option by the underwriter in the Offering.
Ocean Power Technologies (NASDAQ:OPTT) has been a disaster for long-term investors. Anyone unfortunate to have owned OPTT stock over the long haul has ended up lost at sea. OPTT stock has plummeted from (a reverse-split adjusted) $1,200 per share in 2011 to just $3 now.That doesn't stop OPTT stock from occasionally offering up sizzling trade opportunities, however. Last week, for example, OPTT stock jumped as much as 300%, reaching nearly $15, after it announced a contract to "provide services" to an unnamed "leading offshore oil and gas operator." OPTT indicated that, under the deal, it would provide "autonomous surveillance and monitoring," as well as a "recharging system," for "underwater vehicles."InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 8 Risky Stocks to Watch as Earnings Season Kicks Off The gains would be short-lived though. OPTT stock proceeded to drop 80% from its high to just $3 following its secondary stock offering. What's going on here, and what does the future hold for Ocean Power Technologies stock? Ocean Power: An Interesting IdeaOcean Power seeks to create a very cool business: generating electricity from ocean waves. In the company's latest annual report, it claims to be the world leader in "ocean wave power conversion technology." The company suggests that its PowerBuoy product will be able to convert the energy in ocean waves into electricity.The company is targeting remote offshore users who don't have easy access to conventional electricity sources. Ocean Power Technologies was founded in 1984 and has been testing its PowerBuoy technology in the seas since 1997.But OPTT's business hasn't been successful. The majority of its revenues have come from government support rather than sales to the private sector. Despite many years of testing, the PowerBuoy has not yet established itself as a reliable, dependable product with a large customer base. Until that happens, OPTT stock can keep popping after periodic press releases about potential new customers. But it will take recurring sales to move OPTT from interesting science project to profitable business venture. Ocean Power: A History Of ChallengesSince its founding, OPTT has racked up more than $200 million of debt. That's a huge number for a company with a market cap of just around $15 million, even after the latest offering of Ocean Power Technologies stock.It's not hard to see why Ocean Power has struggled over the years. Despite its lack of widely commercialized technology, OPTT doesn't spend much on research and development. It spends just around $1.3 million per quarter on engineering and product development costs.Meanwhile, it spends significantly more than that on selling, general and administrative costs. It's hard to disrupt a competitive industry like energy when spending such a small amount of money on product development. Of course, sometimes David does beat Goliath. But investors should realize that most of these tiny companies which generate almost no revenue are unlikely to win in the long run. The Offering of OPTT StockGiven Ocean Power's long history of large, consistent operating losses, it's not surprising that OPTT decided to tap the capital markets for more cash. As of January 31, 2019, it had been down to $2.2 million of cash. OPTT tends to run through about that much over the course of an average quarter.Thus, it was quite logical for the company to exploit the pop of OPTT stock by selling more shares. The $15 million in cash that the company raised will allow its operations to continue for at least another year. But what a price OPTT paid to get that money!At the beginning of the year, OPTT stock was trading for around $6-$7. By last week, it had dipped to $5. On the contract news, Ocean Power Technologies stock spiked as high as $16 and closed at almost $8 per share. That made it all the more shocking when Ocean Power announced its secondary offering had been made at a stunningly low price of $3.50 per share plus warrants.The $3.50 price represented more than a 50% discount from where OPTT stock had closed the night before, and a nearly 30% discount to where it had been trading prior to the contract news. Throw in warrants, and the dilution is even more extreme. That was simply awful for shareholders, and shows the market's fundamental distrust of Ocean Power's technology. OPTT should have been able to price its stock offering a lot higher if institutional shareholders had felt the company's prospects were more promising. The Verdict on OPTT StockOcean Power Technologies stock should be avoided by most investors. The company has a long history of losing tons of money. Throw in a number of SEC investigations and shareholder lawsuits over the years, and it's clear that most people should stay clear of the stock.But highly speculative investors might be able to profitably trade OPTT . It is, after all, down to $3 now, well below the $3.50 secondary stock price offering. And the company does have a year or more of cash now to keep its operations going. Given its history, however, it seems likely that Ocean Power will need to sell more stock again in the future. That will dilute shares even more and send the stock price lower. For long-term investors, there are much better stocks to buy.At the time of this writing, Ian Bezek held no positions in any of the aforementioned securities. You can reach him on Twitter at @irbezek. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Medical Marijuana Stocks to Cure Your Portfolio * 8 Best Stocks to Buy for an April Rally * Top 20 Stocks to Buy for 20-Somethings! Compare Brokers The post Why Ocean Power Technologies Stock Soared … and Then Crashed appeared first on InvestorPlace.
It was at the top of my morning gap scanner, having jumped more than 75 percent in premarket on a headline, its float was 416,000 and it was still trading below $10 at around $8.70. Although I may have gotten in a little earlier, I don’t buy premarket because stocks that gap up as much OPTT did can get overextended and, once the bell rings, completely collapse.
MONROE TOWNSHIP, N.J., April 04, 2019 -- Ocean Power Technologies, Inc. (“OPT” or “the Company”) (NASDAQ: OPTT), a leader in innovative ocean energy solutions, and Acteon Field.
Ocean Power Technologies, Inc. (OPTT) (“OPT” OR THE “COMPANY”), today announced the pricing of an underwritten public offering with gross proceeds of approximately $15,000,000, before deducting underwriting discounts, commissions and other offering expenses. The offering consists of: (i) 4,285,680 shares of our Common Stock together with a number of Common Warrants to purchase 4,285,680 shares of our Common Stock, and/or (ii) Pre-Funded Warrants, with each Pre-Funded Warrant exercisable for one share of Common Stock, together with a number of Common Warrants to purchase 4,285,680 shares of our Common Stock. The Common Stock will have a purchase price of $3.50 per share.
Ocean Power Technologies, Inc. (“OPT” or “the Company”) (OPTT), a leader in innovative and cost-effective ocean energy solutions, has signed a contract with a leading oil and gas exploration and production company to complete a 12-week paid feasibility study that will examine the use of OPT’s products and services in monitoring subsea wells during decommissioning activities. George H. Kirby, President and Chief Executive Officer of Ocean Power Technologies, commented, “This study will evaluate the use of our PowerBuoys® in monitoring multiple customer wells during oil field decommissioning activities in the very deep and challenging waters of the Gulf of Mexico. We believe our solutions will reduce the cost of our customer’s operations and will also increase safety and improve operational flexibility by providing an unmanned, autonomous power and communications platform. Feasibility studies are an excellent way for us to apply our solutions as the first step toward deploying our products within customer operations.
HENDERSON, NV / ACCESSWIRE / April 1, 2019 / According to the Cannabis Energy Report released by New Frontier Data last October, the production of legal cannabis is projected to consume 162 % more energy ...