Will The Sell Off Continue? Ocean Power Technologies Inc (NASDAQ:OPTT)

Ocean Power Technologies Inc (NASDAQ:OPTT) stock is moving up a bit after gapping lower on Wednesday. OPTT continues to trend lower in a channel and it looks like it may want to roll over after a few up days here.

Market Action

As of 11:46, OPTT stock has moved down 1% to  $2.19. Total traded volume was 611K shares, compared to its average volume of 3.04 million shares. The stock has moved in range of $2.0900 – 2.2300 after opening at $2.11.

OPTT Released News Last Week

Ocean Power Technologies Receives $1 Million of Non-Dilutive Funding Through NJEDA Technology Business Tax Certificate Transfer Program

  • OPTT announced that it has received $1 million of non-dilutive funding through the New Jersey Economic Development Authority’s (NJEDA) Technology Business Tax Certificate Transfer Program.
  • Administered by the NJEDA and the New Jersey Department of the Treasury’s Division of Taxation, the Technology Business Tax Certificate Transfer Program enables companies to raise funding to finance their growth and operations.
  • Under the program, New Jersey-based technology or biotechnology companies with fewer than 225 US employees may be eligible to sell net operating losses (NOLs) and research and development tax credits to unaffiliated corporations, up to a maximum lifetime benefit of $20 million per business.

Trader Notes

Share Information

SHARE FLOAT (%)50.97 M (99.97%)

Recent Stock Performance

5-DAY PERF.+7.88%
1-MONTH PERF.-5.19%
3-MONTH PERF.-52.80%
6-MONTH PERF.+8.42%
YTD PERF.-18.59%
1-YEAR PERF.+427.46%

Moving Averages

+/- EMA(20)2.32 (-5.60%)
+/- SMA(50)2.78 (-21.22%)
+/- SMA(200)2.54 (-13.78%)

Pivot Points

NameS3S2S1Pivot PointsR1R2R3

Technical Indicators

CCI20-55.2009SellChaikin Money Flow-0.0169Neutral
MACD-0.2675SellMoney Flow Index43.2748Sell
STOCH (14,3)44.3182BuySTOCH RSI1.0000OverBought
UO48.6251BuyWilliams %R-55.6818Neutral

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