FY2028 Earnings Estimate for OPTT Issued By HC Wainwright

Ocean Power Technologies, Inc. (NASDAQ:OPTT) – Investment analysts at HC Wainwright upped their FY2028 earnings per share (EPS) estimates for shares of Ocean Power Technologies in a report released 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 prior forecast of ($0.07). HC Wainwright has a “Buy” rating on the stock.

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

Ocean Power Technologies Trading Up 2.1%

OPTT opened at $0.15 on Thursday. The company has a market capitalization of $35.35 million, a price-to-earnings ratio of -0.48 and a beta of 2.57. Ocean Power Technologies has a 12-month low of $0.13 and a 12-month high of $0.72. The business’s fifty day simple moving average is $0.27 and its 200-day simple moving average is $0.36.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in OPTT. Royal Bank of Canada raised its stake in Ocean Power Technologies by 1,383,331.4% in the first quarter. Royal Bank of Canada now owns 705,550 shares of the energy company’s stock valued at $247,000 after buying an additional 705,499 shares during 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 increased its holdings in shares of Ocean Power Technologies by 68.3% during the fourth quarter. Virtu Financial LLC now owns 245,368 shares of the energy company’s stock valued at $74,000 after acquiring an additional 99,544 shares in the last quarter. Hamilton Capital Partners LLC purchased a new position in shares of Ocean Power Technologies in the 4th quarter valued at approximately $91,000. Finally, Connective Capital Management LLC acquired a new stake in Ocean Power Technologies in the 3rd quarter worth approximately $593,000. 11.93% of the stock is currently owned by hedge funds and other institutional investors.

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

About Ocean Power Technologies

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.