Ocean Power Technologies (AMEX: OPTT) 52-Week High Located At $0.77, Forget The Dips, Just Ride The Rips

Ocean Power Technologies (AMEX:OPTT) does about 25.62M shares in volume on a normal day but saw 94760100 shares change hands in Monday trading. The company now has a market cap of 23.79M USD. Its current market price is $0.40, marking an increase of 10.80% compared to the previous close of $0.36. The 52 week high reached by this stock is $0.77 whilst the lowest price level in 52 weeks is $0.12.

Ocean Power Technologies (OPTT) has a 20-day trading average at $0.2078 and the current price is -47.97% off the 52-week high compared with 233.42% distance from its 52-week low. The 50-day simple moving average of the closing price is $0.1963 and its 200-day simple moving average is $0.2808. If we look at the stock’s price movements over the week, volatility stands at 37.26%, which decreases to 20.38% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 66.77 to suggest the stock is neutral.

The consensus objective for the share price is $60.00, suggesting that the stock has a potential upside of 99.33% over the period.

UBS reiterated its price target at $19-$14.

Ocean Power Technologies (OPTT) stock is up 104.34% over the week and 123.52% over the past month. Its price is 26.61% year-to-date and -34.13% over the past year.

To reach the target analysts have set, the stock logically needs to grow 99.33 percent from here.

The company has a return on investment of -110.89% and return on equity of -77.49%. The beta has a value of 2.23. Price to book ratio is 0.94 and price to sales ratio is 4.83.