A share of Ocean Power Technologies Inc. (AMEX:OPTT) closed at $1.03 per share on Tuesday, up from $0.94 day before. While Ocean Power Technologies Inc. has overperformed by 9.95%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, OPTT fell by -46.07%, with highs and lows ranging from $2.76 to $0.50, whereas the simple moving average fell by -20.64% in the last 200 days.
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On February 25, 2015, H.C. Wainwright started tracking Ocean Power Technologies Inc. (AMEX: OPTT) recommending Neutral. A report published by Ascendiant Capital Markets on May 09, 2013, Initiated its previous ‘Strong Buy’ rating for OPTT. UBS also reiterated OPTT shares as ‘Buy’, quoting a target price of $14 on the company’s shares in a report dated July 17, 2008. UBS resumed its ‘Buy’ rating for OPTT, as published in its report on March 20, 2008. B. Riley & Co’s report from August 20, 2007 suggests a price prediction of $18.50 for OPTT shares, giving the stock a ‘Buy’ rating. Bear Stearns also rated the stock as ‘Outperform’.
Analysis of Ocean Power Technologies Inc. (OPTT)
Further, the quarter-over-quarter increase in sales is 33.30%, showing a positive trend in the upcoming months.
Ocean Power Technologies Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -25.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 19.80, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and OPTT is registering an average volume of 654.43K. On a monthly basis, the volatility of the stock is set at 10.70%, whereas on a weekly basis, it is put at 10.06%, with a gain of 42.09% over the past seven days.
How Do You Analyze Ocean Power Technologies Inc. Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.05%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 13.50% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in OPTT shares?
The recent increase in stakes in OPTT appears to be a result of several institutional investors and hedge funds increasing their positions. SSgA Funds Management, Inc.’s position in OPTT has increased by 4.56% in the first quarter. The company now owns 2,734,758 shares of the stock, with a value of $1.54 million, following the purchase of 119,190 additional shares during the last quarter. The Vanguard Group, Inc. made another decreased to its shares in OPTT during the first quarter, downing its stake by -17.16%. During the last quarter, the company dropped down -382,800 additional shares for a total stake of worth $1.04 million, bringing number of shares owned by the company to 1,847,409.
During the first quarter, BlackRock Fund Advisors subtracted a -6,489 position in OPTT. Mitsubishi UFJ Kokusai Asset Mana purchased an additional 65848.0 shares in the last quarter, increasing its holdings by 11.74%, now holding 0.63 million shares worth $0.35 million. At the end of the first quarter, Geode Capital Management LLC increased its OPTT holdings by 12.77% and now holds 0.47 million OPTT shares valued at $0.27 million with the added 53222.0 shares during the period. OPTT shares are owned by institutional investors to the tune of 13.50% at present.