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Ocean Power Technologies - OPTT STOCK NEWS

Welcome to our dedicated news page for Ocean Power Technologies (Ticker: OPTT), a resource for investors and traders seeking the latest updates and insights on Ocean Power Technologies.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Ocean Power Technologies's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Ocean Power Technologies's position in the market.

News
Paragon Calls on Ocean Power to Cease Any and All Future Equity Raises That Dilute Existing Stockholders to Fund OPT's Losses and Executive Compensation
Rhea-AI Summary
Paragon Technologies, Inc. calls on Ocean Power Technologies, Inc. to stop diluting existing stockholders to fund losses and executive compensation, committing up to $3 million in non-dilutive preferred equity to save the company. The market has lost faith in OPT's strategy, leading to a 40% share price drop. Paragon filed a complaint alleging an invalid annual meeting. OPT's stock price continues to decline, prompting Paragon's offer to invest in the company to prevent insolvency and create shareholder value.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.56%
Tags
none
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News
Ocean Power Technologies Announces Participation in NATO Digital Ocean Industry Symposium
Rhea-AI Summary
Ocean Power Technologies (OPTT) announces participation in NATO Digital Ocean Industry Symposium. Chief Commercial Officer to present at the event focusing on leveraging unmanned technology for maritime operations.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.43%
Tags
none
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News
Ocean Power Technologies Announces Teaming Agreement with Major International Defense Contractor to Deploy Maritime Domain Awareness Solutions
Rhea-AI Summary
Ocean Power Technologies (OPTT) partners with a major international defense contractor to deploy Maritime Domain Awareness Solutions, enhancing maritime security and surveillance.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.3%
Tags
none
News
Ocean Power Technologies Announces Strategic Alliance with Red Cat for Advanced Maritime Defense Solutions
Rhea-AI Summary
Ocean Power Technologies (OPTT) forms a strategic alliance with Red Cat Holdings to enhance maritime security through the integration of drone technology. The collaboration aims to revolutionize situational awareness and operational safety for defense and security missions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.68%
Tags
none
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News
Ocean Power Technologies Announces “Merrows”: A Consolidated Solution for Maritime Domain Awareness
Rhea-AI Summary
Ocean Power Technologies, Inc. (OPTT) announces Merrows, a groundbreaking solution to enhance maritime domain awareness and ocean security. OPTT's innovative technology integrates Command, Control, Communications, Computers, Cyber, Intelligence, Surveillance, and Reconnaissance systems to provide advanced data analysis capabilities. The company's CEO highlights the importance of this initiative in safeguarding maritime domains and national security.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.85%
Tags
none
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News
Ocean Power Technologies Secures $1.5 Million in Purchase Orders for WAM-V USV's in Latin America
Rhea-AI Summary
Ocean Power Technologies, Inc. (OPTT) announces the largest order in its history from a Latin American offshore energy customer, totaling over $1.5 million. The purchase orders for multiple WAM-V USVs highlight OPT's technological prowess and market leadership, solidifying its position in the marine robotics industry.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.02%
Tags
none
News
Ocean Power Technologies, Inc. Announces Third Quarter Fiscal 2024 Results
Rhea-AI Summary
Ocean Power Technologies, Inc. (OPTT) reported continued growth in pipeline, revenue, and gross profit for Q324, with a pipeline increase to $77 million, a significant gross margin rate improvement, and key operational highlights. The company received funding for maritime projects, won contracts for USVs, and secured funding under the NJEDA NOL program. Financially, OPTT saw revenue growth to $1.8 million for Q324, gross profit increase to $0.8 million, but also faced higher operating expenses and a net loss of $6.5 million. Cash position decreased to $9.3 million, reflecting increased operating activities.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.69%
Tags
earnings
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News
Ocean Power Continues to Ignore Small Individual Investors Instead Focusing on Institutional Investors Who Own Relatively Little OPT Stock
Rhea-AI Summary
Paragon Technologies, Inc. expresses disappointment in Ocean Power Technologies, Inc.'s preference for institutional investors over individual shareholders.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
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News
Ocean Power Technologies to Report fiscal 2024 Third Quarter Results on March 13, 2024
Rhea-AI Summary
Ocean Power Technologies, Inc. (OPTT) will report its fiscal 2024 third quarter results on March 13, 2024. The conference call to discuss financial results will be on March 14, 2024, with CEO Philipp Stratmann, CFO Bob Powers, and Controller Joseph Dipietro hosting. OPT is focusing on increasing relations with institutional investors through individual meetings.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.57%
Tags
conferences earnings
News
Paragon Asks Ocean Power CEO Stratmann to Provide Shareholder Transparency to Recent Announcements - Believes Ocean Power Will Report Significant Losses in Upcoming Quarterly Earnings Release
Rhea-AI Summary
Paragon Technologies, Inc. calls on Ocean Power Technologies, Inc. CEO to provide transparency on recent order and funding announcements. OPT's financial data shows growing expenses and losses despite minimal revenue growth.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.88%
Tags
earnings
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Ocean Power Technologies

OTC:OPTT

OPTT Rankings

#5351 Ranked by Market Cap
#4822 Ranked by Stock Gains
N/A Ranked by Dividends

OPTT Stock Data

14.15M
55.15M
7.09%
6.85%
4.9%
Industrial and Commercial Fan and Blower and Air Purification Equipment Manufacturing
Manufacturing
Link
US
Monroe Township

About OPTT

ocean power technologies (nasdaq:optt) is a pioneer in renewable wave-energy technology that converts ocean wave energy into electricity. opt specializes in advanced autonomous (not grid connected), cost-effective, and environmentally sound ocean wave based power generation and management technology. the powerbuoy system integrates patented technologies in hydrodynamics, electronics, energy conversion, and computer control systems to extract the natural energy in ocean waves. the result is a leading edge, ocean-tested, proprietary autonomous system that turns wave power into reliable, clean, and environmentally beneficial electricity for offshore applications. wave power is abundant in all areas of the world and its harnessing offers a dependable clean source of renewable and cost effective energy. opt’s powerbuoy converts such energy to provide persistent and reliable power generation for marine applications. current solutions for applications that require persistent, long-term operat