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
Company profile
Ticker
OPTT
Exchange
Website
CEO
George H. Kirby
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
Ocean Power Technologies Ltd • Oregon Wave Energy • Victorian Wave Partners Pty Ltd • 3Dent Technology, LLC • Marine Advanced Robotics, Inc. ...
IRS number
222535818
OPTT stock data
Latest filings (excl ownership)
DFAN14A
Additional proxy materials by non-management
22 Apr 24
8-K
Other Events
17 Apr 24
8-K
Other Events
16 Apr 24
DFAN14A
Additional proxy materials by non-management
12 Apr 24
8-K
Ocean Power Technologies Announces Strategic Alliance with Red Cat for Advanced Maritime Defense Solutions
8 Apr 24
8-K
Ocean Security is National Security ™ Services for the Defense, National Secrurity, and Offshore Industries
2 Apr 24
8-K
Ocean Power Technologies Secures $1.5 Million in Purchase Orders for WAM-V USV’s in Latin America
27 Mar 24
8-K
Entry into a Material Definitive Agreement
21 Mar 24
424B5
Prospectus supplement for primary offering
21 Mar 24
8-K
Announces Third Quarter Fiscal 2024 Results
13 Mar 24
Transcripts
OPTT
Earnings call transcript
2024 Q3
14 Mar 24
OPTT
Earnings call transcript
2024 Q2
14 Dec 23
OPTT
Earnings call transcript
2024 Q1
14 Sep 23
OPTT
Earnings call transcript
2023 Q4
13 Jul 23
OPTT
Earnings call transcript
2023 Q3
14 Mar 23
OPTT
Earnings call transcript
2023 Q2
15 Dec 22
OPTT
Earnings call transcript
2023 Q1
13 Sep 22
OPTT
Earnings call transcript
2022 Q4
14 Jul 22
OPTT
Earnings call transcript
2022 Q3
15 Mar 22
OPTT
Earnings call transcript
2022 Q2
15 Dec 21
Latest ownership filings
SC 13D/A
Paragon Technologies, Inc.
17 Apr 24
4
Matthew Burdyny
2 Feb 24
4
Anderson Natalie M. Lorenz
2 Feb 24
4
Peter E. Slaiby
2 Feb 24
4
Robert Patrick Powers
2 Feb 24
4
Clyde W Hewlett
2 Feb 24
4
Joseph DiPietro
2 Feb 24
4
Philipp Stratmann
2 Feb 24
4
Terence James Cryan
2 Feb 24
4
DIANA G PURCEL
2 Feb 24
Financial summary
Quarter (USD) | Oct 23 | Jul 23 | Apr 23 | Jan 23 | |
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Annual (USD) | Apr 23 | Apr 22 | Apr 21 | Apr 20 | |
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 3.51 mm | 3.51 mm | 3.51 mm | 3.51 mm | 3.51 mm | 3.51 mm |
Cash burn (monthly) | 191.00 k | 583.00 k | 2.49 mm | 2.65 mm | 2.50 mm | 2.18 mm |
Cash used (since last report) | 1.12 mm | 3.41 mm | 14.61 mm | 15.52 mm | 14.65 mm | 12.79 mm |
Cash remaining | 2.39 mm | 96.74 k | -11.10 mm | -12.01 mm | -11.14 mm | -9.28 mm |
Runway (months of cash) | 12.5 | 0.2 | -4.4 | -4.5 | -4.5 | -4.2 |
Institutional ownership, Q3 2023
10.3% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 36 |
Opened positions | 6 |
Closed positions | 4 |
Increased positions | 5 |
Reduced positions | 7 |
13F shares | Current |
---|---|
Total value | 1.49 bn |
Total shares | 6.13 mm |
Total puts | 0.00 |
Total calls | 104.00 k |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
PAO Paragon | 2.26 mm | $0.00 |
Vanguard | 1.81 mm | $707.59 mm |
BLK Blackrock | 580.57 k | $226.42 mm |
Geode Capital Management | 478.32 k | $186.61 mm |
Bailard | 240.35 k | $93.74 mm |
STT State Street | 196.18 k | $76.51 mm |
Bridgeway Capital Management | 130.00 k | $50.70 mm |
NTRS Northern Trust | 105.42 k | $41.11 mm |
MS Morgan Stanley | 55.61 k | $21.69 mm |
Charles Schwab Investment Management | 48.63 k | $18.96 mm |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
22 Jan 24 | Cryan Terence James | Common Stock | Grant | Acquire A | No | No | 0 | 110,294 | 0.00 | 258,889 |
22 Jan 24 | Clyde W Hewlett | Common Stock | Grant | Acquire A | No | No | 0 | 110,294 | 0.00 | 181,871 |
22 Jan 24 | Anderson Natalie M. Lorenz | Common Stock | Grant | Acquire A | No | No | 0 | 110,294 | 0.00 | 162,742 |
22 Jan 24 | Peter E. Slaiby | Common Stock | Grant | Acquire A | No | No | 0 | 110,294 | 0.00 | 206,871 |
22 Jan 24 | Diana G Purcel | Common Stock | Grant | Acquire A | No | No | 0 | 110,294 | 0.00 | 181,871 |
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; Paragon Commits Up To $3M In Non-Dilutive Preferred Equity Of OPT To Save The Co From Insolvency And Future Shareholder Losses
22 Apr 24
Ocean Power Technologies Announces Teaming Agreement With Major International Defense Contractor To Deploy Maritime Domain Awareness Solutions; No Financial Terms Disclosed
16 Apr 24
Ocean Power Technologies Announces Strategic Alliance With Red Cat For Advanced Maritime Defense Solutions
8 Apr 24
Earnings Scheduled For March 13, 2024
13 Mar 24
12 Industrials Stocks Moving In Thursday's After-Market Session
22 Feb 24
Press releases
Ocean Power Technologies Unveils Versatile New Generation of Buoy Systems
24 Apr 24
Ocean Power Technologies looks to expand growth teaming with major defense contractor
17 Apr 24
Ocean Power Technologies Announces Participation in NATO Digital Ocean Industry Symposium
17 Apr 24
Ocean Power Technologies Announces Teaming Agreement with Major International Defense Contractor to Deploy Maritime Domain Awareness Solutions
16 Apr 24
Paragon Technologies Files Complaint Alleging Ocean Power Technologies Failed to Achieve a Legitimate Quorum at its Annual Meeting of Shareholders
12 Apr 24