Trending Stocks Alert: Ocean Power Technologies, Inc. (NASDAQ:OPTT)


Ocean Power Technologies, Inc. (NASDAQ:OPTT) added 5.31% and closed its last session at $3.37. The stock has the market capitalization of $18.64 Million with the total outstanding shares of 5.53 Million. Ocean Power Technologies, Inc.. has Analysts’ Mean Recommendation of NA between the scale of 1 to 5 (1 represents Strong Buy and 5 means Sell). The stock currently has P/E of 0 for trailing twelve months while its Forward P/E is 0.

Ocean Power Technologies, Inc. (NASDAQ:OPTT) touched its 52-Week High of $15.65 on Jul 20, 2016 while it’s 52-Week Low of $0.95 on Jan 20, 2016. The company currently has Return on Assets of -111.6 percent, Return on Equity of -232.9% and Return on Investment of -356.3 percent. The stock currently showing Weekly Volatility of 11.21%% and Monthly Volatility of 23.04% Percent with Average True Range of 0.56 and Beta of 4.37.

The 1 analysts offering 12-month price forecasts for Ocean Power Technologies Inc have a median target of 60.00, with a high estimate of 60.00 and a low estimate of 60.00. The median estimate represents a +1,680.42% increase from the last price of 3.37.

Press Release:

The Company on 21 October held its annual meeting of stockholders for the fiscal year ended April 30, 2016.

During the meeting, stockholders re-elected board members Terence J. Cryan, Dean J. Glover, George H. Kirby, Robert J. Burger, Steven M. Fludder and Robert K. Winters to one-year terms. Stockholders also ratified KPMG LLP as the Company’s independent registered public accounting firm, approved, on an advisory basis, the compensation of the Company’s named executive officers, and approved an amendment to the Company’s 2015 Omnibus Incentive Plan to increase the number of shares available for future grant by 400,000 shares.

A proposal to amend the Certificate of Incorporation to delete the “only for cause” director removal standard for stockholders was not approved.  However, stockholders approved an amendment to the Company’s Certificate of Incorporation to add a provision which requires that any provision of the Certificate of Incorporation that is contrary to a requirement of the Delaware General Corporate Law shall be read in conformity with the applicable requirement of the Delaware General Corporate Law.

Company Profile:

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.