Ocean Power Gains Analyst Confidence Amid Surging Order Book

The investment case for Ocean Power Technologies received a significant boost recently, as research firm HC Wainwright upgraded the company’s stock to a “strong-buy” rating. This vote of confidence coincides with the release of the firm’s latest quarterly figures and a dramatically expanding pipeline of potential business. Market experts are now modeling a path for the company to reach earnings per share (EPS) breakeven by the fiscal year 2030.

A notable signal of internal optimism came from the company’s Chief Executive Officer, who made a direct purchase of shares. This transaction increased the CEO’s holdings to 510,690 common shares. Operationally, the quarter saw the delivery of eight autonomous vehicles, Read more...