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 $0.2 million following the completion of this transaction.
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 drop of approximately -2.09%. Over the course of the year, Ocean Power Technologies shares have dropped approximately -17.60%. Shares of the company reached a 52-week high of $1.7500 on 01/06/25 and a 52-week low of $0.7366 on 01/13/25. A 50-day SMA is recorded $0.5251, while a 200-day SMA reached $0.2850. Nevertheless, trading volume fell to 17.46 million shares from 19.42 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 0.7970, which, if violated, would cause prices to drop to 0.7534. In the upper region, resistance lies at 0.9171. The next price resistance is at 0.9936. RSI (Relative Strength Index) is 51.81 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.1321, which suggests the price will decrease in the coming days. Percent R is at 89.75%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
