Ocean Power Technologies, Inc. develops and commercializes proprietary systems that generate electricity by harnessing the renewable energy of ocean waves in North and South America, Europe, and Asia. It offers PB3 PowerBuoy system that generates power for use independent of the power grid in remote offshore locations. The company also provides hybrid PowerBuoy products; subsea battery systems; and payloads, integration services, and marine installation services. In addition, it offers electric power and real-time data communications for remote offshore and subsea applications in markets, such as offshore oil and gas, defense and security, science and research, and communications. The company serves public and private entities, and agencies that require remote offshore power. Ocean Power Technologies, Inc. was founded in 1984 and is headquartered in Monroe Township, New Jersey.
IPO Year: 2007
Exchange: NASDAQ
Website: oceanpowertechnologies.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/18/2025 | $1.50 | Buy | H.C. Wainwright |
| 9/24/2025 | $1.50 | Buy | Ladenburg Thalmann |
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4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
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4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
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MONROE TOWNSHIP, N.J., March 17, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced financial results, including record backlog, for its fiscal third quarter ("3Q26") ended January 31, 2026. Highlights include: 3Q26 RESULTS and RECENT HIGHLIGHTS OPT secured a multi-buoy contract totaling approximately $6.5 million from the U.S. Department of Homeland Security ("DHS") supporting a U.S. Coast Guard maritime domain awareness mission off San Diego. The award provides multi-quarter revenue visibility, with delivery of four newly built MERROWS®-equipped PowerBuoy® systems beginning in Q4 of fiscal 2026. The contract further advances ou
MONROE TOWNSHIP, N.J., March 11, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced preliminary financial results for the third quarter ended January 31, 2026 (Q3FY26). The preliminary results included in this press release are subject to change and have not been audited or reviewed by our independent auditor. The Company expects to file its third quarter financial results and update after market close on March 17, 2026. 3Q26 RESULTS and RECENT HIGHLIGHTS Backlog as of January 31, 2026 was approximately $19.9 million, an increase of $12.4 million and 165% over the prior year period.Pipeline as of January 31, 2026 stands at $163.
MONROE TOWNSHIP, N.J., March 05, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will release earnings for its fiscal 2026 third quarter ended January 31, 2026 on Tuesday March 17, 2026. CONFERENCE CALL AND WEBCAST INFORMATION A conference call to discuss OPT's financial results will be held on Wednesday March 18, 2026 at 9:00 AM EST. Philipp Stratmann, CEO, and Bob Powers, CFO will host the call. The dial-in numbers for the conference call are 877-407-8291 or 201-689-8345.Live webcast: Webcast | Ocean Power Technologies FY
MONROE TOWNSHIP, N.J., March 02, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE:OPTT), a provider of autonomous maritime systems and offshore power solutions, today underscored the growing strategic importance of persistent maritime domain awareness and offshore infrastructure protection as instability in the Middle East places key global shipping corridors and energy assets under increased focus. The Company confirms that its regional partners and team members in the Middle East are safe and remain in close coordination with the Company. OPT's operations and customer support activities also continue without disruption. Global commerce and national security operations rely
MONROE TOWNSHIP, N.J., Feb. 24, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced it has received an approximate $1.5 million Purchase Order from the United States Coast Guard (USCG) for the installation and deployment of buoy systems previously ordered. This award completes the acquisition cycle and enables near-term fielding of the systems in support of Department of Homeland Security (DHS) maritime security missions. The Company expects this order to contribute to near-term revenues as installation and deployment activities commence. Under the scope of work, OPT will execute deployment, commissioning, and operational activati
MONROE TOWNSHIP, N.J., Feb. 23, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT) today provided an operational update highlighting continued global deployments and progress on its offshore autonomy infrastructure roadmap. The Company has shipped a WAM-V®, autonomous surface vehicle to Greece to support ongoing customer operations and field activity in the region. This deployment expands OPT's international operational footprint and reflects continued engagement across defense and commercial maritime markets. In parallel, OPT has transitioned its integrated docking and charging program from prototype to a full-scale build, including autonomous d
DENVER, Jan. 06, 2026 (GLOBE NEWSWIRE) -- Markets are waking up to a distinctly forward-looking tape, with investors parsing developments that point to shifts in Artificial Intelligence infrastructure, advanced sensing, defense-aligned energy systems, and deep-tech R&D platforms. Envirotech Vehicles (NASDAQ:EVTV): Strategic Pivot Toward AI Infrastructure Envirotech Vehicles is in focus after announcing an amended and restated Letter of Intent to acquire AZIO AI Corporation, a move that could dramatically reshape the company's long-term identity. The proposed all-equity transaction values AZIO AI at an assumed enterprise value of $480 million, using a $3.00 per share reference price for E
MONROE TOWNSHIP, N.J., Jan. 06, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced the award of a multi-buoy contract greater than $5 million to deploy and operate MERROWS®-equipped PowerBuoy® systems in support of a U.S. Coast Guard mission under the U.S. Department of Homeland Security to protect the homeland. This demonstration will enable persistent and resident maritime domain awareness (MDA) off the coast of San Diego, California. As part of the demonstration, the four PowerBuoy® platforms will integrate into the Department of Hom
MONROE TOWNSHIP, N.J., Dec. 15, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced financial results for its fiscal second quarter ("2Q26") ended October 31, 2025. Highlights include: 2Q26 RESULTS and RECENT HIGHLIGHTS Backlog at October 31, 2025 was approximately $15.0 million, an increase of $11.2 million and nearly 300% over the prior year period.Pipeline as of October 31, 2025 stands at $137.5 million, an increase of $53.1million and 63% increase over the $84.4 million pipeline at October 31, 2024.During the quarter, OPT shipped eight WAM-V® autonomous surface vehicles, marking a strategically meaningful milestone for the Com
MONROE TOWNSHIP, N.J., Dec. 03, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will release early earnings for its fiscal 2026 second quarter ended October 31, 2025 prior to market open on Monday December 15, 2025. CONFERENCE CALL AND WEBCAST INFORMATION A conference call to discuss OPT's financial results will be held on Monday December 15, 2025 at 9:00 AM EST. Philipp Stratmann, CEO, and Bob Powers, CFO will host the call. The dial-in numbers for the conference call are 877-407-8291 or 201-689-8345.Live webcast: Webcast
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4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
4 - Ocean Power Technologies, Inc. (0001378140) (Issuer)
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H.C. Wainwright initiated coverage of Ocean Power Tech with a rating of Buy and set a new price target of $1.50
Ladenburg Thalmann initiated coverage of Ocean Power Tech with a rating of Buy and set a new price target of $1.50
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MONROE TOWNSHIP, N.J., March 17, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced financial results, including record backlog, for its fiscal third quarter ("3Q26") ended January 31, 2026. Highlights include: 3Q26 RESULTS and RECENT HIGHLIGHTS OPT secured a multi-buoy contract totaling approximately $6.5 million from the U.S. Department of Homeland Security ("DHS") supporting a U.S. Coast Guard maritime domain awareness mission off San Diego. The award provides multi-quarter revenue visibility, with delivery of four newly built MERROWS®-equipped PowerBuoy® systems beginning in Q4 of fiscal 2026. The contract further advances ou
MONROE TOWNSHIP, N.J., March 11, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced preliminary financial results for the third quarter ended January 31, 2026 (Q3FY26). The preliminary results included in this press release are subject to change and have not been audited or reviewed by our independent auditor. The Company expects to file its third quarter financial results and update after market close on March 17, 2026. 3Q26 RESULTS and RECENT HIGHLIGHTS Backlog as of January 31, 2026 was approximately $19.9 million, an increase of $12.4 million and 165% over the prior year period.Pipeline as of January 31, 2026 stands at $163.
MONROE TOWNSHIP, N.J., March 05, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will release earnings for its fiscal 2026 third quarter ended January 31, 2026 on Tuesday March 17, 2026. CONFERENCE CALL AND WEBCAST INFORMATION A conference call to discuss OPT's financial results will be held on Wednesday March 18, 2026 at 9:00 AM EST. Philipp Stratmann, CEO, and Bob Powers, CFO will host the call. The dial-in numbers for the conference call are 877-407-8291 or 201-689-8345.Live webcast: Webcast | Ocean Power Technologies FY
MONROE TOWNSHIP, N.J., Dec. 15, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced financial results for its fiscal second quarter ("2Q26") ended October 31, 2025. Highlights include: 2Q26 RESULTS and RECENT HIGHLIGHTS Backlog at October 31, 2025 was approximately $15.0 million, an increase of $11.2 million and nearly 300% over the prior year period.Pipeline as of October 31, 2025 stands at $137.5 million, an increase of $53.1million and 63% increase over the $84.4 million pipeline at October 31, 2024.During the quarter, OPT shipped eight WAM-V® autonomous surface vehicles, marking a strategically meaningful milestone for the Com
MONROE TOWNSHIP, N.J., Dec. 03, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will release early earnings for its fiscal 2026 second quarter ended October 31, 2025 prior to market open on Monday December 15, 2025. CONFERENCE CALL AND WEBCAST INFORMATION A conference call to discuss OPT's financial results will be held on Monday December 15, 2025 at 9:00 AM EST. Philipp Stratmann, CEO, and Bob Powers, CFO will host the call. The dial-in numbers for the conference call are 877-407-8291 or 201-689-8345.Live webcast: Webcast
MONROE TOWNSHIP, N.J., July 24, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced financial results for its fiscal fourth quarter ("4Q25") and full-year ended April 30, 2025 ("FY25"). Highlights include: FY25 RESULTS and RECENT HIGHLIGHTS Backlog at April 30, 2025 was $12.5 million, a 158% increase over the prior year.Pipeline as of the date of this release stands at $137.5 million, an 88% increase over the $71.6 million pipeline at April 30, 2024.Operating expenses of $23.3 million for FY25 decreased $8.9 million, or 28%, versus $32.2 million for the year ended April 30, 2024.Revenues for FY25 of $5.9 million increased 6% over
MONROE TOWNSHIP, N.J., July 15, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will release earnings for its fiscal 2025 full year and fourth quarter ended April 30, 2025 after the market closes on Thursday July 24, 2025. CONFERENCE CALL AND WEBCAST INFORMATION A conference call to discuss OPT's financial results will be held on Friday July 25, 2025, at 9:00 AM EST. Philipp Stratmann, CEO, and Bob Powers, CFO, will host the call. The dial-in numbers for the conference call are 877-407-8291 or 201-689-8345.Live webcast: Web
MONROE TOWNSHIP, N.J., March 18, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced financial results for the second quarter ended January 31, 2025 (Q3FY25). Q3FY25 Financial Highlights Backlog: $7.5 million, compared to the $3.3 million for the same period last year. Primarily driven by our previously announced new partner in Latin America which includes an initial $2.0 million of purchase orders for our Next Generation PowerBuoys® and $3.0 million of WAM-V® purchase orders. Revenue: $0.8 million, compared to $1.8 million for the same period last year.Operating expenses: $6.1 million, compared to $8.6 million for the same period
MONROE TOWNSHIP, N.J., Dec. 16, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced financial results for the second quarter ended October 31, 2024 (Q2FY25). Q2FY25 Financial Highlights Revenue: $2.4 million, compared to $0.9 million for the same period last year, representing a 2.7x increase.Net Loss: $3.9 million, compared to $7.2 million in the prior year period, representing a year-over-year decrease of 46%. Operating expenses have been reduced by 41%, including reduced external expenditures leading to a material reduction in third party spend. Cash Used in Operating Activities: $4.8 million, compared to $7.5 milli
MONROE TOWNSHIP, N.J., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), today announced preliminary financial results for the second quarter ended October 31, 2024 (Q2FY25). The preliminary results included in this press release are subject to change and have not been audited or reviewed by our independent auditor. The Company expects to file its second quarter financial results and update in mid‐December. Preliminary Q2FY25 Financial Highlights(All figures are preliminary, unaudited, and subject to finalization): Revenue: Estimated to be greater than $2 million, compared to $0.9 million for the same period last year, representing a m
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DENVER, Jan. 06, 2026 (GLOBE NEWSWIRE) -- Markets are waking up to a distinctly forward-looking tape, with investors parsing developments that point to shifts in Artificial Intelligence infrastructure, advanced sensing, defense-aligned energy systems, and deep-tech R&D platforms. Envirotech Vehicles (NASDAQ:EVTV): Strategic Pivot Toward AI Infrastructure Envirotech Vehicles is in focus after announcing an amended and restated Letter of Intent to acquire AZIO AI Corporation, a move that could dramatically reshape the company's long-term identity. The proposed all-equity transaction values AZIO AI at an assumed enterprise value of $480 million, using a $3.00 per share reference price for E
MONROE TOWNSHIP, N.J., Feb. 10, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE:OPTT) ("OPT" or the "Company"), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it will exhibit at NAVDEX in Abu Dhabi with Remah International Group ("RIG"), a privately held and UAE headquartered company with a focus on both military and civilian services. This follows OPT's appointment of RIG as its distributor for defense and security solutions in the UAE in late 2024. RIG, through its locally owned group of 48 companies, partners with industry leading solution providers globally like Red Cat and SAAB, to ensure the highest levels
MONROE TOWNSHIP, N.J., Jan. 17, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that concurrent with the completion of the Company's 2024 Annual Meeting of Stockholders on January 16, 2025, the OPT Board of Directors has appointed Natalie Lorenz-Anderson, Rear Admiral Joseph A. "Digger" DiGuardo and Rear Admiral Victorino "Vic" Mercado as Advisory Board Members. The Advisory Board Members will provide advice and recommendations to the OPT Board with respect to matters as the Board may from time-to-time request concerning operations, s
MONROE TOWNSHIP, N.J., Oct. 21, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE:OPTT) ("OPT" or the "Company"), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has signed a Distributor Agreement with Remah International Group ("RIG"), a privately held and UAE headquartered company with a focus on both military and civilian services. Through its locally owned group of 48 companies, RIG partners with esteemed solution providers globally, including Northrop Grumman and SAAB, to ensure the highest levels of service and product are supplied to the UAE. OPT and RIG will collaborate to promote, distribute, sell, and
MONROE TOWNSHIP, N.J., Oct. 14, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE:OPTT) ("OPT" or the "Company"), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has signed an agreement with 3B General Trading & Contracting Co. W.L.L. (3B) to explore projects in the offshore energy and maritime industry in Kuwait, including deployment of WAM-V® autonomous and unmanned surface vehicles and Next Generation PowerBuoys® equipped with AI capable Merrows™. Philipp Stratmann, CEO and President of OPT, expressed his enthusiasm about this agreement, stating, "As we continue our growth, we are excited to continue our exp
MONROE TOWNSHIP, N.J., June 27, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE:OPTT) ("OPT" or the "Company"), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, is pleased to announce the signing of an Original Equipment Manufacturer ("OEM") agreement with Teledyne Marine, a division of Teledyne Technologies Inc. (NYSE:TDY) ("Teledyne"), a key supplier in the maritime technology inclusive of connectors, instruments, and vehicles. This strategic partnership aims to enhance OPT's product offerings and drive innovation within the industry providing customers with a turnkey system. Philipp Stratmann, CEO of OPT, expressed his enth
MONROE TOWNSHIP, N.J., April 16, 2024 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. (NYSE:OPTT) ("OPT" or the "Company"), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has signed a teaming agreement with a major international defense contractor to provide its Merrows suite of solutions with a focus on certain geographic regions. This alliance is set to advance maritime domain awareness through OPT's innovative Maritime Domain Awareness Solution (MDAS). Under the terms of the agreement, the defense contractor will have exclusive rights to provide OPT's MDAS solution within certain international geographic regions. Le
MONROE TOWNSHIP, N.J., Dec. 13, 2021 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE:OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced Robert P. (Bob) Powers has been appointed by the Company's Board of Directors as Senior Vice President and Chief Financial Officer, effective December 13, 2021. Mr. Powers brings more than 25 years of experience in finance and strategy to OPT, most recently as CFO of Constellation Advisors, a private equity-owned provider of outsourced back-office operations and compliance services. He has held financial leadership roles with Sterling Talent Solutions, Wo
Philipp Stratmann Appointed as President and CEO, and Matthew Shafer Promoted to Senior Vice President, CFO and Treasurer MONROE TOWNSHIP, N.J., June 21, 2021 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or the "Company") (NYSE:OPTT), a leader in innovative and cost-effective low carbon ocean energy solutions, today announced that its Board of Directors appointed Philipp Stratmann as its new President and Chief Executive Officer (CEO), and a Director. Mr. Stratmann previously served as OPT's Vice President of Global Business Development since 2019. In addition, the Board of Directors has elevated Matthew T. Shafer, to Senior Vice President, Chief Financial Officer and Treas