While Ocean Power Technologies has underperformed by -1.86%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, OPTT rose by 76.56%, with highs and lows ranging from $1.75 to $0.12, whereas the simple moving average jumped by 22.61% in the last 200 days.
On February 25, 2015, H.C. Wainwright started tracking Ocean Power Technologies (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 (OPTT)
Further, the quarter-over-quarter decrease in sales is -53.96%, showing a negative trend in the upcoming months.
To gain a thorough understanding of Ocean Power Technologies’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -80.51% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.97, 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.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and OPTT is recording an average volume of 21.35M. On a monthly basis, the volatility of the stock is set at 11.70%, whereas on a weekly basis, it is put at 12.03%, with a loss of -11.65% over the past seven days. Furthermore, long-term investors anticipate a median target price of $60.00, showing growth from the present price of $0.47, which can serve as yet another indication of whether OPTT is worth investing in or should be passed over.
How Do You Analyze Ocean Power Technologies Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. 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 10.99%. 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 5.19% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
OPTT shares are owned by institutional investors to the tune of 5.19% at present.
