OPTT - Ocean Power Technologies, Inc.
| Previous Close | 2.3300 |
| Open | 2.2600 |
| Bid | 2.2700 x 900 |
| Ask | 2.2900 x 800 |
| Day's Range | 2.1800 - 2.3200 |
| 52 Week Range | 2.1800 - 23.8000 |
| Volume | 249,617 |
| Avg. Volume | 1,175,593 |
| Market Cap | 6.341M |
| Beta (3Y Monthly) | 3.69 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -14.0630 |
| Earnings Date | Dec 7, 2017 - Dec 11, 2017 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 6.00 |
- GlobeNewswire•3 hours ago
Ocean Power Technologies Regains NASDAQ Listing Compliance
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.
- GlobeNewswire•7 days ago
Ocean Power Technologies Announces Commercialization Update Conference Call on Thursday, May 16, 2019
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.
- GlobeNewswire•8 days ago
Ocean Power Technologies’ PB3 PowerBuoy® Achieves Key Milestone, Generating Over One Megawatt-Hour of Cumulative Energy
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.
- GlobeNewswire•19 days ago
Ocean Power Technologies to Exhibit at the 2019 Offshore Technology Conference
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.
- GlobeNewswire•21 days ago
Ocean Power Technologies to Exhibit at Sea-Air-Space – The Navy League’s Global Maritime Exposition
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.
- GlobeNewswire•last month
Ocean Power Technologies Closes Previously Announced Public Offering
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.
- InvestorPlace•last month
Why Ocean Power Technologies Stock Soared … and Then Crashed
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.
- Benzinga•last month
Getting Your Trading Day Off On The Right Foot: $5,000 In The First 5 Minutes
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.
- GlobeNewswire•2 months ago
Ocean Power Technologies and Acteon Field Life Service Announce Collaborative Agreement
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.
- GlobeNewswire•2 months ago
Ocean Power Technologies, Inc. Prices $15,000,000 Public Offering
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.
- MarketWatch•2 months ago
Ocean Power's stock more than doubles after 'leading' energy company commissions feasibility study
Shares of Ocean Power Technologies Inc. rocketed 113% on very heavy volume in afternoon trade Wednesday, after the company said it signed a contract to complete a study the use of its products and services in monitoring subsea well during decommissioning activities. Trading volume ballooned to more than 20 million shares, compared with the full-day average of just 135,000 shares, enough to make the stock the third-most active on the Nasdaq exchange. The move comes three weeks after a 1-for-20 reverse stock price was effected, and a little over a week after the stock closed at a split-adjusted record low of $4.22. The company said the paid feasibility study, to be completed in 12 weeks, was commissioned by a "leading oil and gas exploration and production company" that was not disclosed. "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," said Chief Executive George Kirby. "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." The stock has lost 51% over the past 12 months, while the S&P 500 has gained 10%.
- GlobeNewswire•2 months ago
Ocean Power Technologies Wins Contract with Leading Oil & Gas Operator
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.
- ACCESSWIRE•2 months ago
Microgrid Tech Could Solve Major Cannabis Problem
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 ...
- Thomson Reuters StreetEvents•2 months ago
Edited Transcript of OPTT earnings conference call or presentation 12-Mar-19 3:00pm GMT
Q3 2019 Ocean Power Technologies Inc Earnings Call
- Simply Wall St.•2 months ago
Is Ocean Power Technologies, Inc.’s (NASDAQ:OPTT) CEO Salary Justified?
George Kirby became the CEO of Ocean Power Technologies, Inc. (NASDAQ:OPTT) in 2015. This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies ofRead More...
- GlobeNewswire•2 months ago
Ocean Power Technologies Signs Master Service Contract with a Leading Offshore Oil and Gas Operator
Ocean Power Technologies, Inc. (“OPT” or “the Company”) (OPTT), a leader in innovative and cost-effective ocean energy solutions, today announced that it signed a Master Service Contract (the “Contract”) with a leading offshore oil and gas operator. The Contract will govern all work with this customer within the U.S. and the U.S. outer continental shelf, including the provision of goods and services.
- GlobeNewswire•2 months ago
Ocean Power Technologies Announces Third Quarter Fiscal 2019 Results
MONROE TOWNSHIP, N.J., March 11, 2019 -- Ocean Power Technologies, Inc. (“OPT” or “the Company”) (NASDAQ: OPTT), a leader in innovative and cost-effective ocean energy.
- GlobeNewswire•2 months ago
Research Report Identifies E*TRADE Financial, Kennedy-Wilson, Alteryx, PTC Therapeutics, Ocean Power Technologies, and NuVasive with Renewed Outlook — Fundamental Analysis, Calculating Forward Movement
NEW YORK, March 06, 2019 -- In new independent research reports released early this morning, Market Source Research released its latest key findings for all current investors,.
- GlobeNewswire•3 months ago
Ocean Power Technologies Announces the Date for the Release of the Third Quarter Fiscal 2019 Results, Conference Call and Webcast
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 financial and operational results for its third quarter and first nine months of fiscal 2019 on Monday, March 11, 2019 after the market closes. The Company will host a conference call and webcast to review the third quarter financial and operating results on Tuesday, March 12, 2019 at 11:00 a.m. Eastern Time. Investors, analysts and members of the media interested in listening to the live presentation are encouraged to join a webcast of the call available on the investor relations section of the Company’s website at https://www.oceanpowertechnologies.com.
- GlobeNewswire•3 months ago
Ocean Power Technologies Announces United States Navy Contract Award
Ocean Power Technologies, Inc. (“OPT” or “the Company”) (OPTT), a leader in innovative and cost-effective ocean energy solutions, today announced a contract award from the United States Navy valued at $125,000, and an additional three options totaling $100,000 for a total potential contract value of $225,000. Under this contract, OPT will immediately begin the development of a buoy mooring system which incorporates fiber optics for the transmission of subsea sensor data to airplanes, ships, and satellites. OPT will execute the work under its Innovation & Support Services line and will leverage its many years of experience with marine systems and U.S. Navy programs to address the Navy’s need for reliable and low-cost “optical-mechanical mooring cables”.
- GlobeNewswire•4 months ago
Ocean Power Technologies and Saab Seaeye Announce a Joint Development and Marketing Agreement
Ocean Power Technologies, Inc. (OPTT), a leader in innovative ocean energy solutions, and Saab Seaeye Ltd, the world’s largest manufacturer of electric underwater robotic systems, today announced a non-exclusive agreement to pursue mutual opportunities through joint system solution development and marketing. The agreement anticipates a preliminary focus on autonomous underwater vehicle (AUV) and remotely operated underwater vehicle (ROV) charging and communications systems.
- GlobeNewswire•4 months ago
Ocean Power Technologies Receives $0.9 Million of Non-Dilutive Funding Through the New Jersey Economic Development Authority’s Technology Business Tax Certificate Transfer Program
Ocean Power Technologies, Inc. (OPTT), a leader in innovative and cost-effective ocean energy solutions, announced today that it recently received $0.9 million of non-dilutive funding through the New Jersey Economic Development Authority’s Technology Business Tax Certificate Transfer Program (the “Program”). The Program enables companies to raise funding to finance their growth and operations and is administered by the New Jersey Economic Development Authority (NJEDA) and the New Jersey Department of the Treasury’s Division of Taxation. Under the Program, New Jersey-based technology and biotechnology companies with fewer than 225 US employees may be eligible to sell net operating losses (NOLs) and research and development tax credits to unaffiliated corporations up to a maximum lifetime benefit of $15 million per business.
- Thomson Reuters StreetEvents•4 months ago
Edited Transcript of OPTT earnings conference call or presentation 11-Dec-18 4:00pm GMT
Q2 2019 Ocean Power Technologies Inc Earnings Call
- GlobeNewswire•5 months ago
Ocean Power Technologies' PowerBuoy™ Successfully Deployed in the Adriatic Sea by Eni
MONROE TOWNSHIP, N.J., Dec. 19, 2018 -- Ocean Power Technologies, Inc. (NASDAQ: OPTT), a leader in innovative and cost-effective ocean energy solutions, announced today that.
- GlobeNewswire•5 months ago
Recent Analysis Shows Sprint, Uranium Energy, Rowan Companies, Dana, Integrated Device Technology, and Ocean Power Technologies Market Influences — Renewed Outlook, Key Drivers of Growth
NEW YORK, Dec. 12, 2018 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.
