Ocean Power Technologies, Inc (OPTT) news stock charts
Ocean Power Technologies, Inc (OPTT) Investment Summary:
Ocean Power Technologies, Inc. engages in the development and commercialization of proprietary systems that generate electricity by harnessing the renewable energy of ocean waves. The company’s product portfolio includes utility PowerBuoy system, which is designed to supply electricity to a local or regional electric power grid; and autonomous PowerBuoy system that is designed to generate power for use independent of the power grid in remote locations. Its customers include public utilities, independent power producers, and other governmental entities and agencies. The company markets and sells its products in the United States and internationally. Ocean Power Technologies, Inc. was incorpor...www.oceanpowertechnologies.com
57 Employees
Founded in 1984
OCEAN POWER TECHNOLOGIES INC (OPTT:NASDAQ)
LAST $6.80 USD
CHANGE TODAY -0.039 -0.57%
VOLUME 3.0K
As of 9:35 AM 03/19/10 All times are local (Market data is delayed by at least 15 minutes).
Snapshot of OCEAN POWER TECHNOLOGIES INC (OPTT)
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OPEN
$6.87
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PREVIOUS CLOSE
$6.84
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DAY HIGH
$6.87
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DAY LOW
$6.80
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52 WEEK HIGH
11/19/09 - $11.22
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52 WEEK LOW
09/8/09 - $3.81
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MARKET CAP
70.7M
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AVERAGE VOLUME 10 D
49.6K
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EPS TTM
$-1.73
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SHARES OUTSTANDING
10.4M
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OPTT Does Not Pay Dividends
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P/E TTM
--
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Key developments for OCEAN POWER TECHNOLOGIES INC (OPTT)
Ocean Power Technologies, Inc expected to Report Fiscal Year 2010 Results on July 12, 2010. This event was calculated by Capital IQ (Created on March 19, 2010).
03/19/2010
Ocean Power Technologies, Inc expected to Report Fiscal Year 2010 Results on July 12, 2010. This event was calculated by Capital IQ (Created on March 19, 2010).
Ocean Power Technologies, Inc Announces Consolidated Unaudited Earnings Results for the Third Quarter and Nine Months Ended January 31, 2010
03/12/2010
Ocean Power Technologies Inc. announced consolidated unaudited earnings results for the third quarter and nine months ended January 31, 2010. For the quarter, the company reported operating loss increased to $6.1 million, as compared to $3.9 million for the three months ended January 31, 2009. This change primarily reflects an increase in product development costs related to OPT's continued work to increase the power output of its utility PowerBuoy system. Net loss was $5.7 million, compared with $3.6 million in the three months ended January 31, 2009. This increase in net loss reflects the change in operating loss as well as a decline in interest income due primarily to lower interest rates and a decrease in cash, cash equivalents and marketable securities, although these were partly offset by an increase in foreign exchange gain primarily attributable to the relative change in the value of the British pound sterling compared to the US dollar. Revenue was $856,482 as compared to $964,803 for the same period last year. Basic and diluted net loss per share was $0.55 as compared to $0.35 for the same period last year. For the nine months, the company reported revenues of $2.7 million compared to $3.4 million for the nine months ended January 31, 2009. The change primarily reflects decreased revenues from OPT's wave power station off the coast of Spain as the project neared completion, the companys Hawaii project with the US Navy and the project in Scotland. Operating loss increased to $14.9 million compared with $13.7 million for the nine months ended January 31, 2009. This reflects higher product development costs, primarily attributable to OPT's efforts to increase the power output of the company's utility PowerBuoy system. Net loss attributable to Ocean Power Technologies Inc. was $12,939,744 or $1.27 basic and diluted net loss per share as compared to net loss attributable to Ocean Power Technologies Inc. was $13,606,530 or $1.33 basic and diluted net loss per share for the same period last year. Net cash used in operating activities was $11,766,432 as compared to $12,696,402 for the same period last year. Purchases of marketable securities were $34,048,490 as compared to $100,069,431 for the same period last year. Purchases of equipment were $199,089 as compared to $749,339,000 for the same period last year. Payments of Patent costs were $119,017 as compared to $191,027 for the same period last year.
Ocean Power Technologies, Inc to Report Q3, 2010 Results on 03/12/2010
03/5/2010
Ocean Power Technologies, Inc announced that they will report Q3, 2010 results on 03/12/2010
Ocean Power Technologies, Inc financial resources
OPTT Competitors
| Company | Last | Change |
| First Solar Inc | $113.79 USD | -1.34 |
| Power of the Dream Ventures Inc | $0.08 USD | 0.00 |
| Suntech Power Holdings Co Ltd | $14.48 USD | -0.06 |
| Market data is delayed at least 15 minutes. | ||
Industry Analysis
| Valuation | OPTT | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 20.7x |
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| Price/Book | 1.0x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | 11.7x |
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OPTT |
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OPTT transactions
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| No transactions in the last 6 months. | ||
More Recent Financial News About Ocean Power Technologies, Inc
Ocean Power Technologies Announces Results for the Quarter and Nine Months Ended January 31, 2010
2010-03-19 02:33:52
Quote: Dunleavy, Chief Executive Officer of Ocean Power TechnologiesInc., said: “This period has seen a continuation of OPT’s growingmomentum as the Company continued to strengthen its presence globallywhile remaining focused on flagship projects and technology development.We are delighted that we have received several significant fundingawards and have been given the opportunity to use our expertise andtechnology to help the world’s authorities achieve their renewableenergy goals. ...Read article
Ocean Power Technologies, Inc. F3Q10 (Qtr End 01/31/10) Earnings Call Transcript
2010-03-17 08:45:32
Quote: Ocean Power Technologies, Inc. (OPTT)
F3Q10 (Qtr End 01/31/10) Earnings Call
March 12, 2010 10:00 am ET
Executives
Charles Dunleavy – CEO
Presentation
Operator
Good day, everyone and welcome to Ocean Power Technologies’ third quarter 2010 audio webcast. Today’s conference is being recorded and webcast. At this time I would now like to turn the call over to the Chief Executive Officer of Ocean Power Technologies, Mr. Charles Dunleavy.
Charles Dunleavy
Thank you. Good mornin...Read article
Ocean Power Technologies Announces Results for the Quarter and Nine Months Ended January 31, 2010
2010-03-15 04:47:03
Quote: Dunleavy, Chief Executive Officer of Ocean Power TechnologiesInc., said: “This period has seen a continuation of OPT’s growingmomentum as the Company continued to strengthen its presence globallywhile remaining focused on flagship projects and technology development.We are delighted that we have received several significant fundingawards and have been given the opportunity to use our expertise andtechnology to help the world’s authorities achieve their renewableenergy goals. ...Read article
OCEAN POWER TECHNOLOGIES, INC. Files SEC form 10-Q, Quarterly Report
2010-03-15 04:47:02
Quote: We currently have four
wholly-owned subsidiaries, which include Ocean Power Technologies Ltd.,
Reedsport OPT Wave Park LLC, Oregon Wave Energy Partners I, LLC, and Oregon Wave
Energy Partners II, LLC, and we own approximately 88% of the ordinary shares of
Ocean Power Technologies (Australasia) Pty Ltd.
The ......Read article
Q3 2010 Ocean Power Technologies, Inc. Earnings Release - Time Not Supplied
2010-03-15 04:47:02
Quote: Read article
Ocean Power Technologies to Announce Third Quarter Results and Host Audio Webcast
2010-03-10 04:46:02
Quote: Press ReleaseSource: Ocean Power Technologies, Inc.On Friday March 5, 2010, 2:00 am ESTPENNINGTON, N.J.--(BUSINESS WIRE)--Ocean Power Technologies, Inc. (: OPTT and Investors and other interested parties may access the webcast byvisiting the Company’s website at Ocean Power Technologies, Inc. (: OPTT andAIM: OPT) is a pioneer in wave-energy technology that harnesses oceanwave resources to generate reliable, clean andenvironmentally-beneficial electricity. OPT has a strong track record int...Read article
Ocean Power Technologies Receives 2.2M EC Grant for Spanish Project
2010-03-10 04:46:02
Quote: Read article
Ocean Power Technologies to Announce Third Quarter Results and Host Audio Webcast
2010-03-09 06:53:41
Quote: Press ReleaseSource: Ocean Power Technologies, Inc.On Friday March 5, 2010, 2:00 am ESTPENNINGTON, N.J.--(BUSINESS WIRE)--Ocean Power Technologies, Inc. (: OPTT and Investors and other interested parties may access the webcast byvisiting the Company’s website at Ocean Power Technologies, Inc. (: OPTT andAIM: OPT) is a pioneer in wave-energy technology that harnesses oceanwave resources to generate reliable, clean andenvironmentally-beneficial electricity. OPT has a strong track record int...Read article
Ocean Power Technologies Receives 2.2M EC Grant for Spanish Project
2010-03-03 03:11:20
Quote: PENNINGTON, N.J.--(BUSINESS WIRE)--Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) ("OPT" or the "Company") announces the award of €2.2 millionunder the European Commission’s Seventh Framework Programme (FP7), bythe EC Directorate responsible for new and renewable sources of energy,energy efficiency and innovation.The grant to OPT is part of a total award of €4.5 million to aconsortium of companies, including OPT, to deliver a PowerBuoy® wav...Read article
Ocean Power Technologies Deploys Hawaii Powerbuoy and Wins Further Funding
2010-02-17 06:19:12
Quote: Read article
Ocean Power Technologies Deploys Hawaii Powerbuoy and Wins Further Funding
2010-02-02 01:53:19
Quote: Read article
Ocean Power Technologies Announces New Chief Executive Officer
2010-01-26 02:34:15
Quote: PENNINGTON, N.J.--(BUSINESS WIRE)--Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) (“OPTâ€) is pleased to announce that the Board of Directors ofOPT has elected Charles Frederick Dunleavy as the Company’s ChiefExecutive Officer, effective January 15, 2010.Mr. Dunleavy, 60, joined OPT in 1994 and has served as the Company’sSenior Vice President and Chief Financial Officer since 2001, and as theCompany’s Treasurer and Secretary and a...Read article
OCEAN POWER TECHNOLOGIES, INC. Files SEC form 8-K, Termination of a Material Definitive Agreement
2010-01-25 02:00:12
Quote: Termination of a Material Definitive Agreement
In connection with the resignation of Mark Robert Draper as the chief executive
officer of Ocean Power Technologies, Inc. ("OPT" or the "Company"), as described
below under Item 5.02(b), the employment agreement dated September 9, 2004 with
Mr. Draper (the "Employment Agreement") was terminated effective January 15,
2010. Mr. Draper will be paid severance benefits according to the provisions of
the Employment Agreemen...Read article
Ocean Power Technologies Announces New Chief Executive Officer
2010-01-19 04:50:31
Quote: PENNINGTON, N.J.--(BUSINESS WIRE)--Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) (“OPTâ€) is pleased to announce that the Board of Directors ofOPT has elected Charles Frederick Dunleavy as the Company’s ChiefExecutive Officer, effective January 15, 2010.Mr. Dunleavy, 60, joined OPT in 1994 and has served as the Company’sSenior Vice President and Chief Financial Officer since 2001, and as theCompany’s Treasurer and Secretary and a...Read article
Ocean Power Technologies to Announce Second Quarter Results and Host Audio Webcast
2010-01-14 03:16:17
Quote: Press ReleaseSource: Ocean Power Technologies, Inc.On Thursday December 3, 2009, 4:43 am ESTPENNINGTON, N.J.--(BUSINESS WIRE)--Ocean Power Technologies, Inc. (NASDAQ: - )(LSE: - Investors and other interested parties may access the webcast byvisiting the Company’s website at Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) is a pioneer in wave-energy technology that harnesses oceanwave resources to generate reliable, clean andenvironmentally-beneficial elec...Read article
Ocean Power Technologies Appoints New Head of North America Business Development and Marketing
2010-01-14 03:16:17
Quote: PENNINGTON, N.J.--(BUSINESS WIRE)--Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) ("OPT" or the "Company") announces the appointment of PhilipJ. Pellegrino to the position of Vice President, North America BusinessDevelopment & Marketing. Reporting to Dr. George W. Taylor, OPT’sExecutive Chairman, Mr. Pellegrino will be responsible for businessdevelopment, sales and marketing activities of the Company throughoutNorth America.Prior to joining OPT, Mr. Pelle...Read article
Ocean Power Technologies Executes Memorandum of Understanding with State of Oregon
2010-01-14 03:16:16
Quote: PENNINGTON, N.J.--(BUSINESS WIRE)--Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) ("OPT" or the "Company") announces the signing of a Memorandumof Understanding (“MOUâ€, or “Agreementâ€) with the State of Oregon. Thepurpose of the MOU is to set forth an approach for developing wave powerprojects within the coastal waters of Oregon.The Agreement outlines important principles for the potentialdevelopment of future wave power facilities in Ore...Read article
Ocean Power Technologies Selects Oregon Iron Works to Build Commercial Wave Energy Device
2010-01-14 03:16:16
Quote: CLACKAMAS, Ore.--(BUSINESS WIRE)--Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) ("OPT" or the "Company") announces that it has selected OregonIron Works (“OIWâ€) of Clackamas to begin construction of its firstcommercial wave energy PowerBuoy® system in North America, to beinstalled off the Oregon coast near Reedsport. Oregon Iron Works is anOregon company with an emerging reputation as an international leader in“green tech†manuf...Read article
Ocean Power Technologies Announces Results for the Quarter and Six Months Ended October 31, 2009
2010-01-14 03:16:15
Quote: PENNINGTON, N.J.--(BUSINESS WIRE)--Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) ("OPT" or the "Company") announces its financial results forthe second quarter and six months ended October 31, 2009 of its fiscalyear ending on April 30, 2010.Second Quarter and Six Month HighlightsMark R. Draper, OPT’s Chief Executive Officer, said: “We made excellentprogress by expanding our global presence while remaining on course tocomplete the first PB150 PowerB...Read article
Ocean Power Technologies Announces Results for the Quarter and Six Months Ended October 31, 2009
2009-12-11 04:53:45
Quote: PENNINGTON, N.J.--(BUSINESS WIRE)--Ocean Power Technologies, Inc. (Nasdaq: OPTT and London Stock Exchange AIM: OPT) ("OPT" or the "Company") announces its financial results forthe second quarter and six months ended October 31, 2009 of its fiscalyear ending on April 30, 2010.Second Quarter and Six Month HighlightsMark R. Draper, OPT’s Chief Executive Officer, said: “We made excellentprogress by expanding our global presence while remaining on course tocomplete the first PB150 PowerB...Read article
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