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Ocean Power Techs

Ocean Power Technologies

Ocean Power Technologies Inc provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets. It provides ocean data collection and reporting, marine power, offshore communications, and Maritime Domain Awareness System (MDAS) products, integrated solutions, and consulting services. The company offers its products and services to a wide range of customers, including those in government and offshore energy, oil and gas, construction, wind power, and other industries. The company has operations in North and South America, Europe, Asia and Australia.

Ocean Power Technologies, Inc. Common Stock

Ocean Power Technologies Inc

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OPTT

Ocean Power Technologies Secures Follow-On Order For WAM-V 8 And Delivers WAM-V 16 And WAM-V 22 To Latin American Survey Customers, Expanding Regional Presence And Supporting Revenue Growth

Ocean Power Technologies Reaches Key Milestone In Naval Information Warfare Center Pacific's Project Overmatch; Successfully Deploys WAM-V Autonomous Vehicles To Enhance Maritime Capabilities For U.S. Military

Ocean Power Technologies, Inc. (NYSE:<a href="https://www.benzinga.com/stock/OPTT#NYSE">OPTT</a>) ("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 service OPT's suite of solutions, including its WAM-V&#xAE; Unmanned Surface Vehicles ("USV"), the Next Generation Powerbuoy&#xAE;, and the AI capable Merrows&#x2122;, to the defense and security industry in the UAE. The Agreement is valid immediately and calls for the parties to explore additional expansion and integration of services as demand for OPT's solutions continues to grow in the UAE.
OPT believes that integrating its commercially available solutions with RIG's leading position in the UAE should drive the rapid acceleration of the adoption of autonomous ocean security services in the region. RIG's long history as one of the first company's setup to service the UAE Armed Forces, its outstanding reputation for excellence and knowledge of the local industry, coupled with its key footprint in the UAE, should enable turnkey services to be carried out more efficiently. RIG will utilize its sales and marketing team to introduce OPT's solutions to a wide range of defense and security customers. OPT and RIG will work on establishing a local maintenance and support infrastructure, using RIG's existing full lifecycle support service functionality.

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Ocean Power Technologies Announces It Has Signed A Distributor Agreement With Remah International Group, A Privately Held And UAE Headquartered Company With A Focus On Both Military And Civilian Services

Ocean Power Technologies, Inc. (NYSE:<a href="https://www.benzinga.com/stock/OPTT#NYSE">OPTT</a>) ("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 &amp; Contracting Co. W.L.L. (3B) to explore projects in the offshore energy and maritime industry in Kuwait, including deployment of WAM-V&#xAE; autonomous and unmanned surface vehicles and Next Generation PowerBuoys&#xAE; equipped with AI capable Merrows&#x2122;.

Ocean Power Technologies Appoints Authorized Service Partner 3B General Trading & Contracting Co. W.L.L. In Kuwait For PowerBuoys And WAM-Vs

<h3>Gainers</h3>
<ul>
<li>Simpple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPPL#NASDAQ">SPPL</a>) stock moved upwards by 20.9% to $0.58 during Friday's after-market session. The market value of their outstanding shares is at $9.4 million. </li>
<li>Aqua Metals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AQMS#NASDAQ">AQMS</a>) shares increased by 4.35% to $0.17. The company's market cap stands at $23.5 million. </li>
<li>Ocean Power Techs (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/OPTT#AMEX">OPTT</a>) stock rose 2.55% to $0.16. The company's market cap stands at $15.3 million. </li>
<li>Ultralife (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULBI#NASDAQ">ULBI</a>) stock moved upwards by 2.07% to $9.35. The market value of their outstanding shares is at $155.4 million. </li>
<li>Exela Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XELA#NASDAQ">XELA</a>) stock rose 1.89% to $2.08. The market value of their outstanding shares is at $13.2 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Momentus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNTS#NASDAQ">MNTS</a>) shares decreased by 6.3% to $0.64 during Friday's after-market session. The company's market cap stands at $16.3 million. </li>
<li>noco-noco (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNC#NASDAQ">NCNC</a>) shares decreased by 5.55% to $0.1. The company's market cap stands at $18.4 million. </li>
<li>SOS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOS#NYSE">SOS</a>) stock declined by 5.11% to $0.84. The market value of their outstanding shares is at $16.6 million. </li>
<li>Complete Solaria (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSLR#NASDAQ">CSLR</a>) shares declined by 4.71% to $2.23. The market value of their outstanding shares is at $141.8 million. </li>
<li>SolarMax Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMXT#NASDAQ">SMXT</a>) shares decreased by 4.27% to $0.88. The market value of their outstanding shares is at $39.4 million. </li>
<li>Energous (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WATT#NASDAQ">WATT</a>) shares declined by 4.21% to $0.57. The company's market cap stands at $3.8 million. 
See Also: <a href="http://www.benzinga.com/money/best-industrials-stocks/" title="www.benzinga.com/money/best-industrials-stocks/">www.benzinga.com/money/best-industrials-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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11 Industrials Stocks Moving In Friday's After-Market Session

Ocean Power Technologies, Inc. (NYSE:<a href="https://www.benzinga.com/stock/OPTT#NYSE">OPTT</a>) ("OPT" or the "Company"), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has received customer confirmation to ship to a customer in the Middle East the previously announced shipment ready AI capable Merrows&#x2122; PowerBuoy&#xAE;. &nbsp;
For additional information about OPT, please visit our website <a href="https://www.globenewswire.com/Tracker?data=RHDtESDc6snkPRR28Mzb_5GaSt99Ao6JIy9SzATPwXGDZUupPBAUQi7biair_CURSPwu8g4r3B04dJMgXqpX9gZBIFNclKAdjUl2LrAsTRKYtd3wOC48o93LLVDbG11_">Ocean Power Technologies</a>.

Ocean Power Technologies Confirms Shipment Of AI capable Merrows PowerBuoy For The Middle East

General

Ocean Power Technologies Announces $1.1M Preliminary Award From New Jersey Economic Development Authority Technology Business Tax Certificate Transfer Program

Contracts

Ocean Power Technologies Ships Multiple WAM-Vs For A Previously Announced US Government Contract

Ocean Power Technologies Signs MoU Agreement With Serviço Nacional De Aprendizagem Industrial To Advance Autonomous Ocean Developments; Terms Not Disclosed

WIIM

Ocean Power Technologies shares are trading higher after the Biden-Harris Administration announced a $112.5 million investment in marine energy.

<a href="https://www.energy.gov/articles/biden-harris-administration-opens-largest-ever-funding-opportunity-commercialize" title="https://www.energy.gov/articles/biden-harris-administration-opens-largest-ever-funding-opportunity-commercialize">https://www.energy.gov/articles/biden-harris-administration-opens-largest-ever-funding-opportunity-commercialize</a>

Biden-Harris Administration Announces $112.5M Investment In Marine Energy To Accelerate Wave Energy Converter Development And Support Clean Energy Initiatives

Ocean Power Technologies shares are trading lower. The company reported Q1 financial results.

Shares of Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) rose sharply in today's pre-market trading after the company announced a strategic collaboration with AWS to help advance <a href="https://www.benzinga.com/news/24/09/40886674/intel-shares-jump-on-reports-of-possible-3-billion-military-chip-funding">US-based chip manufacturing.</a>
Intel shares jumped 6.9% to $22.36 in the pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Galmed Pharmaceuticals Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLMD#NASDAQ">GLMD</a>) gained 73.1% to $6.70 in pre-market trading after declining around 6% on Monday.</li>
<li>Smith Micro Software, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMSI#NASDAQ">SMSI</a>) rose 62.4% to $0.8499 in today's pre-market trading after declining around 9% on Monday.</li>
<li>Wheeler Real Estate Investment Trust, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WHLR#NASDAQ">WHLR</a>) gained 36.7% to $10.05 in the pre-market trading session after jumping 35% on Monday.</li>
<li>Allarity Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALLR#NASDAQ">ALLR</a>) gained 21.3% to $4.10 in pre-market trading.</li>
<li>Adagio Medical Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADGM#NASDAQ">ADGM</a>) rose 16.5% to $4.81 in pre-market trading.</li>
<li>Healthy Choice Wellness Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HCWC#NASDAQ">HCWC</a>) rose 14.5% to $6.00 in pre-market trading after dipping 48% on Monday.</li>
<li>Mynaric AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYNA#NASDAQ">MYNA</a>) gained 13.9% to $0.90 in pre-market trading after gaining 13% on Monday.</li>
<li>SciSparc Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPRC#NASDAQ">SPRC</a>) shares rose 12% to $0.3490 in pre-market trading. SciSparc-Clearmind Medicine collaboration announced the publication of an international patent application for pioneering ibogaine combination therapy.</li>
<li>Avinger, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGR#NASDAQ">AVGR</a>) gained 10.5% to $1.47 in pre-market trading after the company announced it will be issued the U.S. patent number 12,089,868 for the treatment of occlusive coronary artery disease.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Netcapital Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCPL#NASDAQ">NCPL</a>) fell 33% to $1.93 in pre-market trading after reporting first-quarter earnings results.</li>
<li>NKGen Biotech, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKGN#NASDAQ">NKGN</a>) shares dipped 19.4% to $0.60 in pre-market trading after declining around 4% on Monday. NKGen Biotech, last week, announced early interim data from the Phase 1 cohort and the dosing of the first Phase 2 patient in the Phase 1/2a clinical trial of troculeucel.</li>
<li>Dermata Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRMA#NASDAQ">DRMA</a>) fell 14.2% to $1.99 in pre-market trading after the company announced a $3.5 million private placement priced at-the-market under Nasdaq rules.</li>
<li>Golden Heaven Group Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDHG#NASDAQ">GDHG</a>) shares fell 12.7% to $0.0916 in pre-market trading after gaining 5% on Monday.</li>
<li>Bone Biologics Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBLG#NASDAQ">BBLG</a>) shares declined 12.7% to $1.65 in pre-market trading after jumping 136% on Monday.</li>
<li>CN Energy Group. Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNEY#NASDAQ">CNEY</a>) shares fell 11.6% to $0.42 in pre-market trading after gaining around 6% on Monday. CN Energy, last week, announced it received a noncompliance notice from the Nasdaq.</li>
<li>Ocean Power Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPTT#NASDAQ">OPTT</a>) shares declined 9.6% to $0.2259 in pre-market trading following quarterly results.</li>
<li>Aptevo Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APVO#NASDAQ">APVO</a>) fell 9.1% to $0.30 in today's pre-market trading after announcing a $3.0 million offering priced at-the-market under Nasdaq rules.</li>
<li>Tenon Medical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNON#NASDAQ">TNON</a>) shares fell 8.7% to $7.04 in pre-market trading.</li>
<li>ZyVersa Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZVSA#NASDAQ">ZVSA</a>) declined 7.2% to $2.21 in pre-market trading after gaining around 9% on Monday.</li>
</ul>
Now Read This:
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/09/40877520/if-you-want-steel-you-do-nucor-says-cramer-when-asked-about-gerdau"> &#8216;If You Want Steel, You Do Nucor,&#8217; Says Cramer When Asked About Gerdau</a></li>
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Pre-Market Outlook

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Why Intel Shares Are Trading Higher By Around 7%; Here Are 20 Stocks Moving Premarket

Ocean Power Technologies, Inc. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/OPTT#AMEX">OPTT</a>) reported its first-quarter financial results after Monday's closing bell. Here's a look at the <a href="https://www.benzinga.com/pressreleases/24/09/g40887853/ocean-power-technologies-inc-announces-first-quarter-fiscal-2025-results">details from the report. </a>
The Details: Ocean Power Technologies reported quarterly losses of five cents per share, up from losses of 12 cents per share from the prior year&#8217;s quarter. Revenue of $1.3 million for the first quarter was up from $1.27 million from the same period last year.
<ul>
<li>Operating expenses of $4.9 million decreased 39% year-over-year, reflecting previously disclosed restructuring and streamlining activities.</li>
<li>The company&#8217;s backlog was $5.3 million, a 71% increase over the backlog from the same period last year, reflecting its previously announced efforts in Latin America and the Middle East.</li>
<li>The company&#8217;s pipeline was approximately $92 million and reflects an increase in defense and security activity as well as an expansion of commercial opportunities.</li>
</ul>
Read Next: <a href="https://www.benzinga.com/news/large-cap/24/09/40883011/nvidia-micron-smci-stocks-are-down-monday-whats-going-on">NVIDIA, Micron, SMCI Stocks Are Down Monday: What&#8217;s Going On?</a>
&#8220;We continue to make progress on our path towards profitability as evidenced by the continued growth in our pipeline, backlog, revenues and gross margin. We have also made significant progress in stemming our losses, as evidenced by a material decrease in our operating costs,&#8221; said Philipp Stratmann, CEO of Ocean Power Technologies.
&#8220;The previously announced substantial cessation of our R&amp;D efforts and the realignment of our headcount to focus on execution has led to a reduction in payroll and engineering related expenditures, and we will continue to see further benefits of these efforts going forward,&#8221; Stratmann added.
OPTT Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Ocean Power Technologies shares are up 9.32% after-hours at 27 cents after climbing 28.27% in Monday&#8217;s regular trading session.  
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</ul>
Image: u_3u3n7wt5sr from Pixabay

Earnings

Penny Stocks

After-Hours Center

Ocean Power Technologies Stock Climbs On Q1 Results: Details

Ocean Power Techs Q1 EPS $(0.05) Up From $(0.12) YoY, Sales $1.30M Up From $1.27M YoY

Ocean Power Technologies Awarded $1M Follow-On Contract As Subcontractor To EpiSci After Successful Demonstration Of Autonomous Surface Vehicle Technologies In Project Overmatch

Ocean Power Technologies, Inc. (NYSE:<a href="https://www.benzinga.com/stock/OPTT#NYSE">OPTT</a>) ("OPT" or the "Company"), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has achieved a major contractual milestone and completed the build of a new unmanned surface vehicle for delivery to a survey customer in Latin America. This delivery is part of the Company's previously announced expansion into the region, working with end customers and resellers. This milestone triggers revenue recognition of the fully integrated system, including survey equipment.

Ocean Power Technologies Achieves Contractual Milestone, Completed The New WAM-V Surface Vehicle For Immediate Delivery To Latin America

Ocean Power Technologies, Inc. (NYSE:<a href="https://www.benzinga.com/stock/OPTT#NYSE">OPTT</a>) ("OPT" or the "Company"), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced it has completed more than four months of offshore testing of its Next Generation PowerBuoy&#xAE; ("PB") in the Atlantic Ocean off New Jersey. The solar and wind power equipped Next Generation PB was equipped with OPT's proprietary Artificial Intelligence capable Merrows&#x2122; suite of solutions. The system maintained 100% data uptime and the state of charge of the batteries remained over 90% throughout the deployment. During the deployment, several Intelligence, Surveillance, and Reconnaissance demonstrations for potential customers were completed.

Ocean Power Technologies Completes Long Term Testing Of Next Generation PowerBuoy; The System Maintained 100% Data Uptime And The State Of Charge Of The Batteries Remained Over 90% Throughout The Deployment

Ocean Power Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPTT#NYSE">OPTT</a>) ("OPT" or the "Company"), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it has received a further contract by the Naval Postgraduate School (NPS) in Monterey, California. This contract, which supports revenue generation in the near-term, adds to the deployment of OPT's PowerBuoy&#xAE; as part of an ongoing initiative to enhance maritime domain awareness and connectivity in Monterey Bay and demonstrate the use of PowerBuoys&#xAE; for multi-domain drone and communication integration.
Building on the success of the previously announced NPS contract, which included installing AT&amp;T 5G technology on a PowerBuoy&#xAE;, this new order focuses on integrating advanced subsea sensors into a PowerBuoy&#xAE; equipped with OPT's latest Merrows&#x2122; suite for AI capable seamless integration of Maritime Domain Awareness (MDA) across platforms and utilizing communication technologies from AT&amp;T for NPS. The PowerBuoy&#xAE; will provide continuous, autonomous monitoring and data collection capabilities in one of the world's most strategically significant maritime environments.
This deployment will contribute to NPS's series of Field Experimentation exercises, designed to test and refine technologies that improve situational awareness and operational efficiency for naval operations. The PowerBuoy&#xAE; will play a critical role in these exercises, offering a robust, resilient platform that supports persistent surveillance and secure communications in maritime settings. Permits pending, the integrated system will be deployed in the late Fall.

Ocean Power Technologies Receives Further Contract For PowerBuoy Deployment By The Naval Postgraduate School In Monterey, California

Ocean Power Technologies shares are trading higher after the company signed a reseller agreement.

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Red Cat Holdings: Looming Catalysts And The New Era Of AI Drone Swarm Warfare

Ocean Power awarded $1M contract for Project Overmatch MAPG

Today, several major companies are expected to report earnings: Ocean Power Technologies (OPTT), High Tide (HITI) and ImmunoPrecise Antibodies (IPA...

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Ocean Power GAAP EPS of -$0.05, revenue of $1.3M

Ocean Power Technologies, Inc. (OPTT) Q1 2025 Earnings Call Transcript

Ocean Power Technologies signs deal in Brazil to advance autonomous ocean developments

Ocean Power Technologies ships multiple unmanned surface vehicles to the US govt

Ocean Power (OPTT) Technologies announced that it has completed the second set of exercises of the previously announced follow-on contract as a sub...

Ocean Power completes major milestone for Project Overmatch

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Press Releases

Ocean Power Technologies Ships Multiple Unmanned Surface Vehicles to US Government

Ocean Power Technologies Announces $1.1 Million Preliminary Award from the New Jersey Economic Development Authority (NJEDA) Technology Business Tax Certificate Transfer Program

Ocean Power Technologies Confirms Shipment of AI capable Merrows™ PowerBuoy® for the Middle East

Ocean Power Technologies to Present at the MicroCap Rodeo Fall Conference in New York City on October 16th, 2024

Ocean Power Technologies Appoints Authorized Service Partner in Kuwait for PowerBuoys® and WAM-Vs®

Events

The MicroCap Rodeo Fall Conference to Host Executive Teams of 19 Companies on October 16th in NYC

Ocean Power Technologies to exhibit Autonomous Vehicle Services at ADIPEC with Unique Group

Ocean Power Technologies Appoints Remah International Group as Distributor in the UAE

Ocean Power Technologies Completes Major Milestone for Naval Information Warfare Center Pacific's Project Overmatch

Ocean Power Technologies Secures Follow-On Order for WAM-V 8 and Delivers WAM-V 16 and WAM-V 22 to Latin America

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