Ocean Power Technologies, Inc.
28 Engelhard Drive
Monroe Township, New Jersey 08831
Ocean Power Technologies, Inc. was founded in 1984 in New Jersey, commenced business operations in 1994 and re-incorporated in Delaware in 2007. The Company is developing and commercializing its proprietary systems that generate electricity by harnessing the renewable energy of ocean waves.
The Company uses proprietary technologies that convert the mechanical energy created by the heaving motion ofocean waves into electricity. The Company has designed and continues to develop the PowerBuoy™ product line which is based on modular, ocean-going buoys, which the Company has been periodically ocean testing since 1997. As part of our strategic pivot in business operations initiated in fiscal 2015, the Company is focused on developing the PowerBuoys™ technology for use in the autonomous applications markets.
Such applications require open ocean power sources that operate independently of the utility grid by supplying electric power to payloads that are integrated directly in the PowerBuoys™ and/or located in its vicinity. The Company markets its PowerBuoys™ in the United States and internationally. Today the Company’s goal is to generate the majority of its revenue from the sale or lease of products, and sales of services to support our business operations.
COMPANY BUSINESS SUMMARY
Ocean Power Technologies is a pioneer in renewable wave-energy technology that converts ocean wave energy into electricity. OPT's proprietary PowerBuoy® technology is based on a modular design and has undergone periodic ocean testing since 1997. 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.
SHARE RELATED INFORMATION
|52 Week High:||$1.30 on 1/6/18||Total Shares Outstanding:||18,583,000|
|52 Week Low:||.39 on 11/29/18||Public Float:||17,950,000|
|All time High:||$275. on 3/1/2007||Earnings Per Share:|
|All time Low:||.46 on 9/17/18||Book Value:||.39|
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FUNDAMENTAL INVESTMENT HIGHLIGHTS
George Kirby, the CEO has purchased approximately 30,000 shares in the open market between November 2nd and November 6th at an average price of .53 per share.
All numbers in Thousands
Prior Fiscal Yr
|Pre-Tax Earnings (Losses)||($11,276)||($10,184)||($3,240)|
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