Following these proceedings, A number of analysts have revised their coverage, including Ascendiant Capital Markets’s analysts, who began to cover the stock in early May with a ‘”a Strong buy”‘ rating. UBS also remained covering OPTT and reiterated its “Buy” recommendation on July 17, 2008. Bear Stearns revised its rating on April 07, 2008. It rated OPTT as “an Underperform” which previously was an “an Outperform”.
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Price Performance Review of OPTT
On Tuesday, Ocean Power Technologies [AMEX:OPTT] saw its stock fall -3.70% to $0.15. Over the last five days, the stock has lost -6.91%. Ocean Power Technologies shares have fallen nearly -53.07% since the year began. Nevertheless, the stocks have fallen -53.36% over the past one year. While a 52-week high of $0.57 was reached on 07/02/24, a 52-week low of $0.12 was recorded on 06/20/24. SMA at 50 days reached $0.1720, while 200 days put it at $0.2324.
Levels Of Support And Resistance For OPTT Stock
The 24-hour chart illustrates a support level at 0.1428, which if violated will result in even more drops to 0.1373. On the upside, there is a resistance level at 0.1538. A further resistance level may holdings at 0.1593. The Relative Strength Index (RSI) on the 14-day chart is 40.28, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0047, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 78.60%. Stochastics %K at 25.18% indicates the stock is a holding.
How much short interest is there in Ocean Power Technologies?
A steep rise in short interest was recorded in Ocean Power Technologies stocks on 2024-10-15, dropping by 1761.0 shares to a total of 4.32 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 4.32 million shares. There was a decline of -0.04%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on March 20, 2008 when UBS resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $19.
