The stock of Ocean Power Technologies Inc (NASDAQ:OPTT) is a huge mover today! About 317,327 shares traded hands. Ocean Power Technologies Inc (NASDAQ:OPTT) has risen 363.76% since March 2, 2016 and is uptrending. It has outperformed by 355.50% the S&P500.
The move comes after 7 months negative chart setup for the $21.22M company. It was reported on Oct, 5 by Barchart.com. We have $5.83 PT which if reached, will make NASDAQ:OPTT worth $2.55 million less.
According to Zacks Investment Research, “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.”
More notable recent Ocean Power Technologies Inc (NASDAQ:OPTT) news were published by: Seekingalpha.com which released: “Ocean Power Technologies: Destined To Wipe Out?” on September 30, 2016, also Fortune.com with their article: “This Wave-Power Company’s Stock Jumped 75%” published on July 16, 2016, Thestreet.com published: “Why Ocean Power Technologies (OPTT) Stock Is Spiking Today” on July 15, 2016. More interesting news about Ocean Power Technologies Inc (NASDAQ:OPTT) were released by: Thestreet.com and their article: “Ocean Power Technologies (OPTT) Stock Skyrockets on Mitsui Lease Agreement” published on June 01, 2016 as well as Globenewswire.com‘s news article titled: “Ocean Power Technologies, Inc. Announces 1-For-10 Reverse Stock Split” with publication date: October 28, 2015.
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