Equities Analysts Set Expectations for OPTT FY2028 Earnings

Ocean Power Technologies, Inc. (NASDAQ:OPTT) – Analysts at HC Wainwright boosted their FY2028 earnings per share (EPS) estimates for shares of Ocean Power Technologies in a research report issued on Tuesday, July 28th. HC Wainwright analyst S. Joshi now forecasts that the energy company will post earnings of ($0.06) per share for the year, up from their previous estimate of ($0.07). HC Wainwright has a “Buy” rating on the stock.

Separately, LADENBURG THALM/SH SH raised Ocean Power Technologies to a “strong-buy” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $1.50.

Ocean Power Technologies Stock Performance

Shares of OPTT stock opened at $0.15 on Thursday. Ocean Power Technologies has a fifty-two week low of $0.13 and a fifty-two week high of $0.72. The firm has a market capitalization of $35.35 million, a PE ratio of -0.48 and a beta of 2.57. The stock’s 50-day simple moving average is $0.27 and its 200-day simple moving average is $0.36.

Institutional Investors Weigh In On Ocean Power Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in Ocean Power Technologies by 31,555.8% during the second quarter. JPMorgan Chase & Co. now owns 68,693 shares of the energy company’s stock valued at $33,000 after purchasing an additional 68,476 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of Ocean Power Technologies during the first quarter worth about $35,000. Virtu Financial LLC purchased a new stake in shares of Ocean Power Technologies during the third quarter worth about $73,000. Squarepoint Ops LLC acquired a new position in shares of Ocean Power Technologies during the 3rd quarter worth about $129,000. Finally, Hamilton Capital Partners LLC acquired a new position in shares of Ocean Power Technologies during the 4th quarter worth about $91,000. Hedge funds and other institutional investors own 11.93% of the company’s stock.

Trending Headlines about Ocean Power Technologies

Here are the key news stories impacting Ocean Power Technologies this week:

• Positive Sentiment: WAM-V delivery completed: Ocean Power Technologies delivered an unmanned surface vehicle to Stevens Institute of Technology, completing an order announced in June. The delivery demonstrates execution and could help validate demand for the company’s maritime intelligence and autonomous-vehicle solutions, although the announcement did not disclose the order’s financial value. Ocean Power Technologies Announces Delivery of WAM-V Maritime Drone to Stevens Institute of Technology
• Positive Sentiment: Defense-contracting readiness improved: OPTT achieved Cybersecurity Maturity Model Certification Level 2 compliance, a requirement for certain federal defense contracts involving controlled unclassified information. The certification expands the company’s ability to pursue U.S. defense programs, though it does not guarantee new awards or revenue. Ocean Power Technologies Strengthens Defense Contracting Readiness with CMMC Level 2 Compliance
• Positive Sentiment: Analyst outlook remains favorable: HC Wainwright reiterated a Buy rating and projected approximately $0.03 per share in quarterly earnings for fiscal 2027, while raising its FY2028 loss estimate to $0.06 per share from $0.07. The forecasts suggest an improving long-term earnings outlook, but they remain analyst estimates rather than reported results. HC Wainwright estimates for Ocean Power Technologies
• Negative Sentiment: Annual filing delayed: OPTT filed a Form 12b-25 notifying regulators that its annual SEC filing would be late. Filing delays can increase investor concern about reporting quality, liquidity, or internal controls until the full filing is released. Ocean Power Technologies Delays Annual SEC Filing

Ocean Power Technologies Company Profile

Ocean Power Technologies, Inc (NASDAQ: OPTT) is a renewable energy company that develops and commercializes systems to harness clean, reliable power from ocean waves. Headquartered in Pennington, New Jersey, the company’s core focus is on the design, engineering and deployment of its proprietary PowerBuoy® wave energy converter. By capturing the mechanical motion of surface waves and converting it into electrical energy, Ocean Power Technologies aims to deliver environmentally sustainable power solutions for offshore and remote operations.

The company’s primary product line, the PowerBuoy®, employs a point‐absorber design in which a floating buoy moves relative to a seabed‐anchored spar.