In a filing, Ocean Power Technologies revealed its Director Slaiby Peter E. acquired Company’s shares for reported $6713.0 on Nov 25 ’24. In the deal valued at $0.19 per share,35,000 shares were bought. As a result of this transaction, Slaiby Peter E. now holds 241,871 shares worth roughly $0.17 million.
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Then, Cryan Terence James bought 100,000 shares, generating $14,800 in total proceeds. Upon buying the shares at $0.15, the Director now owns 358,658 shares.
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”.
Price Performance Review of OPTT
On Monday, Ocean Power Technologies [AMEX:OPTT] saw its stock jump 40.00% to $0.70. Over the last five days, the stock has gained 349.58%. Ocean Power Technologies shares have risen nearly 121.52% since the year began. Nevertheless, the stocks have risen 97.13% over the past one year. While a 52-week high of $0.57 was reached on 12/02/24, a 52-week low of $0.12 was recorded on 06/20/24. SMA at 50 days reached $0.1792, while 200 days put it at $0.2207.
Levels Of Support And Resistance For OPTT Stock
The 24-hour chart illustrates a support level at 0.5947, which if violated will result in even more drops to 0.4893. On the upside, there is a resistance level at 0.8107. A further resistance level may holdings at 0.9213. The Relative Strength Index (RSI) on the 14-day chart is 97.13, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.2815, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 17.16%. Stochastics %K at 84.95% indicates the stock is a selling.
How much short interest is there in Ocean Power Technologies?
A steep rise in short interest was recorded in Ocean Power Technologies stocks on 2024-11-15, dropping by -1.52 million shares to a total of 2.8 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 4.32 million shares. There was a decline of -54.44%, 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.
