OPTT Stock Summary and Trading Ideas (Ocean Power Techs | AMEX:OPTT)

Ocean Power Technologies Inc provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets. It provides ocean data collection and reporting, marine power, offshore communications, and Maritime Domain Awareness System (MDAS) products, integrated solutions, and consulting services. The company offers its products and services to a wide range of customers, including those in government and offshore energy, oil and gas, construction, wind power, and other industries. The company has operations in North and South America, Europe, Asia and Australia.

Ocean Power Techs trades on the AMEX stock market under the symbol OPTT.

As of April 23, 2024, OPTT stock price was flat at $0.19 with 215,934 million shares trading.

OPTT has a beta of 1.51, meaning it tends to be more sensitive to market movements. OPTT has a correlation of 0.09 to the broad based SPY ETF.

OPTT has a market cap of $11.26 million. This is considered a Sub-Micro Cap stock.

In the last 3 years, OPTT stock traded as high as $3.28 and as low as $.18.

The top ETF exchange traded funds that OPTT belongs to (by Net Assets): VTI, VXF.

OPTT has underperformed the market in the last year with a price return of -63.9% while the SPY ETF gained +24.3%. OPTT has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -30.4% and -25.5%, respectively, while the SPY returned +4.9% and -2.5%, respectively.

OPTT support price is $.18 and resistance is $.20 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that OPTT stock will trade within this expected range on the day.