Should You Buy Ocean Power Technologies Inc (OPTT) Stock After it Is Higher By 47.83% in a Week?

Thursday, January 21, 2021 2:15 PM | InvestorsObserver Analysts

Overall market sentiment has been high on Ocean Power Technologies Inc (OPTT) stock lately. OPTT receives a Bullish rating from InvestorsObserver's Stock Sentiment Indicator.

Sentiment Score - ,bullish
Ocean Power Technologies Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on OPTT!

What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score.

As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend.

Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.

InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.

The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With OPTT Stock Today?

Ocean Power Technologies Inc (OPTT) stock is trading at $4.42 as of 1:57 PM on Thursday, Jan 21, a rise of $0.82, or 22.78% from the previous closing price of $3.60. The stock has traded between $3.25 and $4.50 so far today. Volume today is more active than usual. So far 25,331,685 shares have traded compared to average volume of 8,021,749 shares.

To see InvestorsObserver's Sentiment Score for Ocean Power Technologies Inc click here.

More About Ocean Power Technologies Inc

Ocean Power Technologies Inc is a renewable wave-energy technology company, which is engaged in developing systems that generate electricity by harnessing the renewable energy of ocean waves. It offers the PowerBuoy technology which integrates with hydrodynamics, electronics, energy conversion, and computer control systems to extract the natural energy in ocean waves. Geographically, it derives a majority of revenue from North America and also has a presence in Europe and Asia and Australia.

Click Here to get the full Stock Score Report on Ocean Power Technologies Inc (OPTT) Stock.

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