It Seems Ocean Power Technologies, Inc. (OPTT) Will Go Down. Just Reaches All-Time Low

Ocean Power Technologies, Inc. (NASDAQ:OPTT) Logo

The stock of Ocean Power Technologies, Inc. (NASDAQ:OPTT) reached all time low today, May, 8 and still has $2.32 target or 4.00 % below today’s $2.42 share price. This indicates more downside for the $6.73M company. This technical setup was reported by Barchart.com. If the $2.32 PT is reached, the company will be worth $269,240 less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only.

The stock decreased 3.59% or $0.09 during the last trading session, reaching $2.42. About 167,815 shares traded. Ocean Power Technologies, Inc. (NASDAQ:OPTT) has declined 73.12% since May 8, 2018 and is downtrending. It has underperformed by 77.49% the S&P500.

More notable recent Ocean Power Technologies, Inc. (NASDAQ:OPTT) news were published by: Globenewswire.com which released: “Ocean Power Technologies Announces United States Navy Contract Award – GlobeNewswire” on February 12, 2019, also Benzinga.com with their article: “31 Stocks Moving In Wednesday’s Pre-Market Session – Benzinga” published on March 27, 2019, Benzinga.com published: “32 Stocks Moving In Thursday’s Pre-Market Session – Benzinga” on April 04, 2019. More interesting news about Ocean Power Technologies, Inc. (NASDAQ:OPTT) were released by: Globenewswire.com and their article: “Ocean Power Technologies Welcomes Kristine S. Moore as its Newest Member of its Board of Directors – GlobeNewswire” published on September 11, 2018 as well as Benzinga.com‘s news article titled: “28 Stocks Moving In Wednesday’s Pre-Market Session – Benzinga” with publication date: April 17, 2019.

Ocean Power Technologies, Inc. develops and commercializes proprietary systems that generate electricity by harnessing the renewable energy of ocean waves primarily in North America, Europe, Australia, and Asia. The company has market cap of $6.73 million. It offers PowerBuoy system that is designed to generate power for use independent of the power grid in remote offshore locations. It currently has negative earnings. The firm focuses on serving public and private entities, and agencies that require remote offshore power.

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