ValuEngine Lowers Ocean Power Technologies (OPTT) to Buy

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ValuEngine cut shares of Ocean Power Technologies (NASDAQ:OPTT) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday morning.

Shares of Ocean Power Technologies stock opened at $4.42 on Wednesday. Ocean Power Technologies has a 1 year low of $4.21 and a 1 year high of $24.80.

Ocean Power Technologies (NASDAQ:OPTT) last issued its quarterly earnings results on Monday, March 11th. The energy company reported ($0.14) earnings per share (EPS) for the quarter. The business had revenue of $0.27 million during the quarter. Ocean Power Technologies had a negative return on equity of 232.57% and a negative net margin of 1,962.84%.

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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