Shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT) are scrambling higher in today’s trading session. At the time of writing, the stock had reached $3.68. This represents a change from the opening price of 7.60%. The year-to-date performance of the stock is 62.86%. The monthly stock performance comes in at -54.16%. For the quarter, shares are performing at -56.76%. Weekly performance analysis shows the equity at -37.36%.
Certain covering analysts have provided recommendations and price target projections on Ocean Power Technologies, Inc. (NASDAQ:OPTT). First Call currently has the consensus target price on the stock at $6.00. Analysts have also given a consensus recommendation on the stock of 3.00. This value is based on a numerical scale of 1 to 5. Analysts giving the rating a 4 or 5 are indicating a Sell. Analysts giving the company a 1 or 2 are indicating a Buy. A 3 rating would indicate a Hold on the equity.
Ocean Power Technologies, Inc. shares are currently 287.37% away from the 52 week low. Alternately, the stock is separated -76.49% from the 52 week high. Current levels place the company -39.21% away from it’s 20-day simple moving average. The average volume stands around 5446733. Trading volume is a hugely important consideration for any investor. By watching how many shares are trading hands and looking for any changes in that activity, trading opportunities can be spotted along with a deeper understanding of the reliability of other indicators on the stock. A significant increase in trading volume means that more than double the average amount of stocks are moving. When volume is decreased significantly, it may indicate there is an issue that shareholders should watch out for. It’s also important to take into consideration how long the unusual volume sustains for. If it’s only the one trading day, it can be dismissed as an anomaly.
Disclaimer: The views, opinions, and information expressed in this article are those of the authors and do not necessarily reflect the official policy or position of any company stakeholders, financial professionals, or analysts. Examples of analysis performed within this article are only examples. They should not be utilized to make stock portfolio or financial decisions as they are based only on limited and open source information. Assumptions made within the analysis are not reflective of the position of any analysts or financial professionals.