Is It Worthwhile For Investors To Follow These Insider Trades On Ocean Power Technologies Inc. (OPTT)?

Ocean Power Technologies Inc. (AMEX:OPTT) trading with an addition of $0.08 to $2.20 on Thursday, an upside of 3.68 percent. An average of 1,012,395 shares of common stock have been traded in the last five days. There was a gain of $0.14 in the past week, and it reached a new high 6 times over the past 12 months. The last 20 days have seen an average of 2,428,549 shares traded, while the 50-day average volume stands at 1,806,249.

OPTT stock has increased by 12.77% in the last month. The company shares reached their 1-month lowest point of $1.81 on 09/15/21. With the stock rallying to its 52-week high on 01/25/21, shares of the company touched a low of $1.54 and a high of $7.30 in 52 weeks. It has reached a new high 9 times so far this year and lost -21.19% or -$0.46 in price. In spite of this, the price is down -69.89% from the 52-week high.


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Insider Transactions

288 days have passed since Ocean Power Technologies Inc. (OPTT) last reported insider trading activity. WINTERS ROBERT K, who is Director, most recently acquired $25,000 shares at $2.90 per share on Dec 30.

Valuation Metrics

Ocean Power Technologies Inc. (OPTT) has a trailing price-to-earnings (P/E) ratio of 20.30 for the broader industry and 28.93 for the sector. The stock’s beta is 1.86. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 87.18, the price-to-book (PB) ratio at 1.43.

The quick ratio of Ocean Power Technologies Inc. for the recent quarter was 29.90, and the current ratio was 29.90, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the recent quarter. On the profitability front, the trailing 12-month gross margin is -80.90% against a 5-year average of -52.4%. Ocean Power Technologies Inc.’s EBITDA margin is -1096.19%. Its gross profit as reported stood at -$1.07 million compared to revenue of $1.21 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Ocean Power Technologies Inc.’s return on assets was -21.50%, compared to -69.3% over the last five years. In the past year, the return on investment has been -18.20%, and the 5-year average is -107.6%. Meanwhile, the return on equity (ROE) for the past 12 months has been -23.10% and the 5-year average holds at -109.3%. For the broader industry, ROE averaged 7.02 over the past year.

Earnings Surprise

In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$3.08 million in the quarter, while revenues of -$5.2 million were shrunk -10.06%. For the quarter, EBITDA amounted to -$4.96 million. Shareholders own equity worth $52.46 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Ocean Power Technologies Inc. (OPTT) price momentum. RSI 9-day as of the close on 13 October was 58.02%, suggesting the stock is Neutral, with historical volatility in this time frame at 67.40%.

As of today, OPTT’s price is $2.10 +6.94% or $0.14 from its 5-day moving average. OPTT is currently trading +16.41% higher than its 20-day SMA and +3.95% higher than its 100-day SMA. However, the stock’s current price level is +18.25% above the SMA50 and -23.72% below the SMA200.

The stochastic %K and %D were 23.66% and 16.26%, respectively, and the average true range (ATR) was 0.16. With the 14-day stochastic at 35.19% and the average true range at 0.17, the RSI (14) stands at 55.16%. The stock has reached 0.06 on the 9-day MACD Oscillator while the 14-day reading was at -0.02.

Analyst Ratings

The consensus rating for Ocean Power Technologies Inc. (OPTT) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell OPTT, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 0 others rate it as a “buy”.

What is OPTT’s price target for the next 12 months?

Analysts predict a range of price targets between $1200.00 and $1200.00, with a median target of $1200.00. Taking a look at these predictions, the average price target given by analysts for Ocean Power Technologies Inc. (OPTT) stock is $1200.00.

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