Ocean Power Technologies, Inc. (OPTT) Reports Q1 Loss, Beats Revenue Estimates
Ocean Power Technologies reported a Q1 loss of $1.88 per share, significantly missing EPS expectations of $0.03, though it beat revenue estimates with $1.7 million (up from $1.18 million year-over-year). The stock has declined 64.5% year-to-date and carries a Zacks Rank #3 (Hold) rating. The company's earnings outlook remains challenged with expected losses continuing into the fiscal year.