The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Ocean Power Technologies shares valued at $6,713 were purchased by Slaiby Peter E. on Nov 25 ’24. At $0.19 per share, Slaiby Peter E. acquired 35,000 shares. The insider’s holdings grew to 241,871 shares worth approximately $79817.43000000001 following the completion of this transaction.
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Also, Cryan Terence James purchased 100,000 shares, netting a total of over 14,800 in proceeds. Following the buying of shares at $0.15 each, the insider now holds 358,658 shares.
Analysts at Ascendiant Capital Markets started covering the stock with ‘”a Strong buy”‘ outlook in a report released in early May. As of July 17, 2008, UBS has reiterated its “Buy” rating for OPTT. Earlier on April 07, 2008, Bear Stearns downgraded its rating. Their new recommendation was “an Underperform” for OPTT stock which previously was a “an Outperform”.
Analyzing OPTT Stock Performance
During the last five days, there has been a surge of approximately 14.16%. Over the course of the year, Ocean Power Technologies shares have jumped approximately 4.11%. Shares of the company reached a 52-week high of $0.8160 on 12/02/24 and a 52-week low of $0.1200 on 06/20/24. A 50-day SMA is recorded $0.2339, while a 200-day SMA reached $0.2234. Nevertheless, trading volume fell to 4.29 million shares from 15.62 million shares the previous day.
Support And Resistance Levels for Ocean Power Technologies (OPTT)
According to the 24-hour chart, there is a support level at 0.3194, which, if violated, would cause prices to drop to 0.3100. In the upper region, resistance lies at 0.3392. The next price resistance is at 0.3496. RSI (Relative Strength Index) is 53.64 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0120, which suggests the price will decrease in the coming days. Percent R is at 55.14%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
