Ocean Power Technologies (NASDAQ:OPTT) Stock Rating Upgraded by ValuEngine

Ocean Power Technologies (NASDAQ:OPTT) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Thursday, ValuEngine reports.

OPTT stock traded down $0.08 during trading on Thursday, reaching $1.55. The company had a trading volume of 70,832 shares, compared to its average volume of 144,344. Ocean Power Technologies has a 52 week low of $1.55 and a 52 week high of $16.20. The business’s 50 day moving average price is $1.90.

Ocean Power Technologies (NASDAQ:OPTT) last released its quarterly earnings results on Monday, July 22nd. The energy company reported ($1.05) earnings per share (EPS) for the quarter. Ocean Power Technologies had a negative return on equity of 175.62% and a negative net margin of 1,940.89%. The company had revenue of $0.19 million during the quarter.

About Ocean Power Technologies

Ocean Power Technologies, Inc is a renewable wave-energy technology company, which engages in the development of commercialize proprietary systems that generate electricity through ocean waves. It offers the PB3 PowerBuoy which generates electricity by harnessing the renewable energy of ocean waves. It operates through the following geographical segments: North America; Europe; and Asia and Australia.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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