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Last $2.96 USD
Change Today +0.01 / 0.34%
Volume 16.6K
OPTT On Other Exchanges
As of 8:10 PM 11/25/15 All times are local (Market data is delayed by at least 15 minutes).

ocean power technologies inc (OPTT) Snapshot

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52 Week High
11/26/14 - $10.70
52 Week Low
10/30/15 - $2.31
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ocean power technologies inc (OPTT) Details

Ocean Power Technologies, Inc. develops and commercializes proprietary systems that generate electricity by harnessing the renewable energy of ocean waves primarily in the United States, Europe, Asia, and Australia. It offers autonomous PowerBuoy system that is designed to generate power for use independent of the power grid in remote locations. The company focuses on serving public and private entities, and agencies that use electricity in and near the ocean. Ocean Power Technologies, Inc. was incorporated in 1984 and is headquartered in Pennington, New Jersey.

33 Employees
Last Reported Date: 07/6/15
Founded in 1984

ocean power technologies inc (OPTT) Top Compensated Officers

Chief Executive Officer, President and Execut...
Total Annual Compensation: $102.4K
Chief Financial Officer, Treasurer and Secret...
Total Annual Compensation: $274.4K
Chief Operating Officer
Total Annual Compensation: $304.6K
Compensation as of Fiscal Year 2015.

ocean power technologies inc (OPTT) Key Developments

Ocean Power Technologies, Inc. Announces Initiation of Accelerated Life Testing of Autonomous PowerBuoy PTOs, Retrieval and Repair of APB350 (A1) PowerBuoy

Ocean Power Technologies, Inc. announced that it has begun Accelerated Life Testing on its redesigned APB350 power takeoff (PTO) system as part of its effort to demonstrate product reliability and durability, and to accelerate toward product commercialization. The OPT ALT process consists of operating PTOs in tandem with accelerated operating profiles, which subjects the PTOs to various load conditions encountered in extreme sea states. The test simulates an equivalent three-year ocean deployment within a period of six to nine months, with PTOs that are identical to those of the Company's APB350 (A1). The company also announced that it retrieved its APB350 (A1) PowerBuoy for a necessary repair. The PowerBuoy had been deployed off the coast of New Jersey since late August, and it is now ready for redeployment at the earliest available weather window.

Ocean Power Technologies Seeks Partnership

Ocean Power Technologies, Inc. (NasdaqCM:OPTT) is looking for partnership. The company stated, “We are continuing to discuss new opportunities for joint development and projects with potential partners as part of our commercialization efforts. We are encouraged by the opportunities in front of us, and we look forward to achieving further progress in the near future.”

Ocean Power Technologies, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended July 31, 2015

Ocean Power Technologies announced unaudited consolidated earnings results for the first quarter ended July 31, 2015. For the quarter, the company announced revenues of $105,666 compared to $1,540,528 a year ago. The decrease in revenues compared with the prior year period was primarily related to the completion of company's WavePort contract with the European Union and decreased billable costs on company's project with Mitsui Engineering & Shipbuilding or MES. Operating loss was $4,389,733 compared to $3,469,553 a year ago. Net loss was $4,114,644 compared to $3,348,831 a year ago. Net loss attributable to the company was $4,162,041 compared to $3,282,752 a year ago. Basic and diluted net loss per share was $0.24 compared to $0.19 a year ago. Net cash used in operating activities was $3,118,368 compared to $3,167,540 a year ago. Purchases of equipment were $9,223 compared to $1,041 a year ago. The increase in net loss is primarily due to higher product development costs associated with the deployment of company's legacy PB40 device and due to the redesigned APB-350.


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