Ocean Power Technologies Inc. (OPTT) Sees Significant Decline in Short Interest
Ocean Power Technologies Inc. (NASDAQ:OPTT) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 706,660 shares, a drop of 27.7% from the October 14th total of 977,748 shares. Based on an average trading volume of 2,267,380 shares, the short-interest ratio is currently 0.3 days. Approximately 23.8% of the shares of the company are sold short.
Ocean Power Technologies (NASDAQ:OPTT) opened at 4.15 on Thursday. The company’s market capitalization is $13.77 million. Ocean Power Technologies has a 52-week low of $0.95 and a 52-week high of $15.65. The firm has a 50-day moving average of $3.99 and a 200 day moving average of $5.12.
Ocean Power Technologies (NASDAQ:OPTT) last posted its quarterly earnings results on Monday, September 12th. The company reported ($1.72) EPS for the quarter. Ocean Power Technologies had a negative net margin of 1,597.25% and a negative return on equity of 199.36%. Equities analysts predict that Ocean Power Technologies will post ($5.65) earnings per share for the current fiscal year.
About Ocean Power Technologies
Ocean Power Technologies, Inc is developing and seeking to commercialize its systems that generate electricity by connecting the renewable energy of ocean waves. The Company’s PowerBuoy systems use technologies that convert the mechanical energy created by the rising and falling of ocean waves into electricity.
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