What's Going On With Ocean Power Technologies (OPTT) Shares?

Ocean Power Technologies Inc OPTT shares are trading volatile Thursday morning after the company secured a contract with a new European Offshore Services Provider for the delivery of a fully integrated WAM-V system.

What To Know: Ocean Power Technologies says this marks the company's expansion into the European Union, aligning with its broader strategy to grow in international markets. The company says the vehicle will be assembled and shipped immediately, with in-country training and services provided.

CEO Philipp Stratmann emphasized the rising demand for OPT's marine technology, particularly in defense, security and offshore operations. He highlighted the company's continued growth, citing expanding opportunities in the U.S., Latin America, the Middle East and now Europe.

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How To Buy OPTT Stock

By now you're likely curious about how to participate in the market for Ocean Power Techs – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

In the case of Ocean Power Techs, which is trading at $0.51 as of publishing time, $100 would buy you 196.08 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

According to data from Benzinga Pro, OPTT has a 52-week high of $1.75 and a 52-week low of $0.12.