Ocean Power Technologies (NASDAQ:OPTT) announced its quarterly earnings results on Monday. The energy company reported ($0.22) earnings per share for the quarter, Bloomberg Earnings reports. Ocean Power Technologies had a negative net margin of 615.46% and a negative return on equity of 94.45%.
Shares of OPTT stock opened at $0.88 on Tuesday. Ocean Power Technologies has a fifty-two week low of $0.33 and a fifty-two week high of $2.29. The company has a 50 day moving average price of $1.06 and a 200 day moving average price of $0.66. The stock has a market capitalization of $15.58 million, a P/E ratio of -0.62 and a beta of 2.80. The company has a debt-to-equity ratio of 0.11, a quick ratio of 6.13 and a current ratio of 6.13.
Separately, ValuEngine upgraded shares of Ocean Power Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, June 17th.
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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