Today, we feature Ocean Power Technologies Inc (NASDAQ: OPTT) , a renewable energy stock, is featured as today’s top momentum gainer since it gained more than 32% touching its new intraday 52-week highs during the last two consecutive trading days with far more shares changing hands than in a normal session. During the last session, OPTT was the top gainers in the U.S. energy space after gaining 32.5% during the last trading session and closed at its 52-week high of $4.68 while recording huge volumes of over 31.7 million shares. During the past 5 trading sessions, OPTT skyrocketed 111.8% with daily average traded volumes of 11.6 million shares compared to 1-month daily average volumes of 2.42 million shares. Recently, OPTT received a total of approximately $1.75 million under the State of New Jersey’s Business Tax Certificate Transfer Program to finance the growth and operations of the company. OPTT is also set to build the world’s largest wave energy project in the coast of Australia which is expected to generate a total of 62.5 Mw of power upon full completion, enough to successfully power 10,000 homes.
Company Description:
Ocean Power Technologies Inc (NASDAQ: OPTT) manufactures equipment that generates electricity from the motion of ocean waves. The company’s PowerBuoy system has capacity of up to 100MW and can be used as either a primary or secondary source of electricity, and can power desalination, natural resource processing and hydrogen production plants and other facilities.
1-Year Stock Chart:
