Ocean Power Technologies, Inc. (OPTT) saw a growth in revenue for the fiscal third quarter (ended January 31). Unfortunately, the revenue did not translate into a bottom-line improvement.
The company’s revenues increased 51.7% year-over-year to $734 thousand. On the other hand, its net loss and net loss per share came in at $6.09 million and $0.11, up 11.3% and 10% from the prior-year period, respectively. The stock closed its last trading session at $0.49, lower than its 50-day moving average of $0.55 and 200-day moving average of $0.73, indicating a downtrend.
