Ocean Power Technologies, Inc. (OPTT) Stock Price & How to Invest
Short answer
You can invest in Ocean Power Technologies (OPTT) by buying shares or fractional shares at any major broker, through an ETF that holds it, or as one holding in a thematic basket. Ocean Power Technologies builds intelligent maritime systems: PowerBuoy ocean-power-and-data buoys, WAM-V autonomous surface vessels, and the Merrows AI platform for maritime domain awareness, sold mainly to defense, homeland-security, and offshore customers. The thesis is that navies and security agencies will pay for persistent, unmanned ocean surveillance and power at sea, and OPTT is an early, listed pure-play on that theme. The biggest risk is that this is a highly speculative micro-cap with tiny revenue, heavy cash burn, repeated share dilution, and a going-concern warning, so the equity can fall sharply or be diluted away.
OPTT stock price
As of 2026-06-26, Ocean Power Technologies, Inc. (OPTT) last closed at $0.2500, down 49.0% over the past year. Over the past 52 weeks it has traded between $0.2500 and $0.8400.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Ocean Power Technologies, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does Ocean Power Technologies, Inc. (OPTT) do?
Ocean Power Technologies designs and sells intelligent maritime products and services. Its PowerBuoy platforms generate clean electric power and provide real-time data and communications for remote ocean and subsea applications, acting as persistent floating infrastructure where running a cable or sending a crewed vessel is impractical. Its WAM-V autonomous surface vessels are uncrewed marine robots used for survey, research, and surveillance, and its Merrows platform layers AI-driven maritime domain awareness across these and third-party assets so a customer can monitor a stretch of ocean continuously. The combined pitch is unmanned, always-on eyes and power at sea for defense, homeland security, offshore energy, and research buyers.
The company has been public for years and spent much of its history as a wave-energy hopeful before repositioning around defense and maritime-security demand, which has driven recent momentum. In fiscal 2026 it shipped the first PowerBuoy under a roughly $6.5 million U.S. Department of Homeland Security contract, deploying it off California to support U.S. Coast Guard maritime domain awareness, and booked a fully integrated WAM-V order from a Nordic underwater-research customer, alongside deployments in the UAE and Taiwan. The financial reality is stark: fiscal 2025 revenue was about $5.9 million against a net loss near $21.5 million, quarterly revenue is small and lumpy, the company burns cash, and it funds operations by repeatedly issuing shares, with the count rising from roughly 177 million in mid-2025 to over 230 million by mid-2026 and management flagging substantial doubt about its ability to continue as a going concern.
What's driving Ocean Power Technologies, Inc. (OPTT)?
1. Defense and homeland-security pivot.
OPTT has repositioned from wave-energy hopeful to maritime-security supplier, and that shift is driving its order flow. The roughly $6.5 million Department of Homeland Security PowerBuoy contract, with the first system deployed off California for U.S. Coast Guard maritime domain awareness, is the clearest proof point. Defense and security buyers value persistent, unmanned ocean coverage, a need that plays to OPTT's products. Sustained government interest would be the strongest validation of the story.
2. Backlog and pipeline growth.
The company has grown its reported backlog sharply, roughly doubling to about $12.5 million in fiscal 2025 and reaching near $15 million in fiscal 2026, with a stated pipeline above $130 million. For a pre-scale company, backlog matters more than any single quarter because it signals demand that has not yet converted to revenue. The open question is how much of that pipeline becomes firm, paid orders and how quickly. Conversion, not pipeline size, is what eventually shows up in the income statement.
3. Three-product maritime platform.
OPTT sells PowerBuoy for power and data, WAM-V autonomous surface vessels for unmanned operations, and Merrows for AI maritime domain awareness, and increasingly pitches them as an integrated system. Bundling power, robotics, and AI lets it pursue larger, stickier deals than any single product. International deployments in the UAE, Taiwan, and the Nordics show the offering travels beyond U.S. customers. Whether these stay one-off demonstrations or grow into repeatable, fleet-scale programs is the key swing factor.
4. Operating-cost discipline.
Management cut operating expenses meaningfully in fiscal 2025, reducing them by roughly 28 percent while still investing in the defense pivot. Lower fixed costs stretch each financing dollar and shorten the path toward breakeven if revenue scales. For a company that lives on its cash runway, spending control is as important as winning orders. Even so, costs still far exceed revenue, so discipline alone does not remove the need for outside capital.
What are the risks to Ocean Power Technologies, Inc. (OPTT)?
The central risk is that revenue is tiny relative to the company's valuation and ongoing cash needs: fiscal 2025 revenue was around $5.9 million against a net loss near $21.5 million, and quarterly revenue can drop to a few hundred thousand dollars. The company burns cash heavily, used roughly $20 million in operating cash over nine months of fiscal 2026, and funds itself by issuing stock, with shares outstanding rising from about 177 million in mid-2025 to over 230 million by mid-2026 and management warning of substantial doubt about its ability to continue as a going concern. Orders are lumpy and often demonstration-scale, execution on larger programs is unproven, and it competes for defense and maritime budgets against far larger, better-capitalized players. Any combination of a missed contract, a delayed payment, or a dilutive raise at a low price can hit the equity hard.
How is Ocean Power Technologies, Inc. (OPTT) valued? (approximate, Fiscal year ended April 30, 2025, with figures through Q2 fiscal 2026 (quarter ended October 31, 2025))
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Ocean Power Technologies, Inc.'s investor relations page or your broker.
- Revenue (FY2025): ~$5.9 million
- Net loss (FY2025): ~$21.5 million
- Backlog: ~$15 million (FY2026)
- Cash + short-term investments: ~$11.7 million (Oct 31, 2025)
- Shares outstanding: ~230 million (mid-2026)
- Market cap: ~$60-70 million (mid-2026)
A pre-scale ocean and defense-tech micro-cap like OPTT cannot be valued on earnings because there are none; it loses money on small, lumpy revenue. The numbers that matter are order backlog and pipeline (demand not yet booked), cash runway versus burn rate, and the pace of share dilution, because the company funds itself by issuing stock. The market cap embeds a theme premium for autonomous maritime and defense exposure rather than current results, so the stock can trade far above what the financials alone would justify and can re-rate sharply, up or down, on a single contract announcement or capital raise.
Who competes with Ocean Power Technologies, Inc. (OPTT)?
Autonomous maritime and unmanned surface vessels
OPTT competes for unmanned ocean-surveillance and surface-vessel work against far larger defense players such as Kratos Defense (KTOS) and L3Harris (LHX), plus well-funded private firms like Saildrone. These rivals have deeper balance sheets, established government relationships, and broader product lines.
Marine renewable energy and ocean power
OPTT's wave and ocean-power heritage puts it adjacent to marine renewable energy developers, most of which are small, private, or pre-commercial. This remains an emerging niche with limited proven demand, and OPTT has shifted its emphasis toward defense and data applications rather than grid-scale power.
ETFs and alternatives
Investors seeking the broader themes can use defense or clean-energy ETFs rather than a single name, though micro-caps like OPTT are rarely held in major ETFs and, when included, carry tiny weights. Broad funds offer diversification and far lower single-stock risk than owning OPTT directly.
How to invest in Ocean Power Technologies, Inc. (OPTT)
There are three common ways to get OPTT exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so OPTT sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where OPTT fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on Ocean Power Technologies, Inc. (OPTT)
Ocean Power Technologies is a speculative micro-cap betting that autonomous maritime systems and ocean power become standard tools for defense and homeland-security customers, with a growing order backlog but revenue still measured in single-digit millions. It behaves like a high-risk story stock: the share price swings hard on contract headlines, the company funds itself by issuing stock, and the position can move much more violently than a broad index in either direction.
More on Ocean Power Technologies, Inc. (OPTT)
Whether OPTT is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is OPTT a buy?, and where the stock could go from here in the OPTT stock forecast.
For income investors, whether OPTT pays a dividend and how the payout looks is covered in does OPTT pay a dividend?
Build a basket around OPTT with Walnut
Use Ocean Power Technologies, Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does Ocean Power Technologies do?
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Ocean Power Technologies builds intelligent maritime systems. Its PowerBuoy buoys generate clean power and relay data at sea, its WAM-V autonomous surface vessels are uncrewed marine robots, and its Merrows platform uses AI for maritime domain awareness. It sells mainly to defense, homeland-security, offshore-energy, and research customers that need persistent, unmanned coverage of the ocean.
What are PowerBuoy and WAM-V?
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PowerBuoy is OPTT's floating platform that generates electric power and provides real-time data and communications for remote ocean and subsea sites, acting as persistent infrastructure where cables or crewed vessels are impractical. WAM-V is its family of autonomous surface vessels, uncrewed marine robots used for survey, surveillance, and research. Together with the Merrows AI software, they form OPTT's integrated maritime offering.
Does OPTT pay a dividend?
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No. Ocean Power Technologies does not pay a dividend. It is an unprofitable, cash-burning micro-cap that reinvests in its products and funds operations by issuing stock, so it retains no cash for distributions. Investors in OPTT are betting entirely on share-price appreciation, not income.
Why is OPTT a penny stock, and why does it keep diluting shareholders?
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OPTT trades at a low share price because it generates only a few million dollars of revenue while losing much more, so the market values the whole company in the tens of millions. Because it burns cash, it funds itself by selling new shares and warrants, which is why the share count rose from roughly 177 million in mid-2025 to over 230 million by mid-2026. That ongoing dilution reduces each existing holder's stake and is a core risk of owning the stock.
Which ETFs or baskets include OPTT?
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Because OPTT is a tiny micro-cap, it is rarely held in major ETFs, and when it appears in a broad small-cap or thematic fund the weight is minimal. Investors who want exposure usually buy the shares directly or hold it as one small piece of a defense or maritime-technology themed basket. In Walnut you can add OPTT as a single holding inside a basket built around an autonomous-maritime or defense thesis.
Is OPTT a good stock?
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This is descriptive, not advice. The bull case is that OPTT is an early listed pure-play on autonomous maritime and ocean power with a growing defense and homeland-security backlog. The bear case is that it is a highly speculative micro-cap with tiny revenue, heavy cash burn, constant dilution, and a going-concern warning, meaning the equity could fall sharply or be diluted away. Whether it fits you depends on your own goals and risk tolerance.
Is OPTT a good stock to buy right now?
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This is informational, not a recommendation. OPTT is a high-risk story stock whose price swings on contract headlines and capital raises rather than steady fundamentals, and timing such a name is inherently uncertain. Anyone considering it should weigh the speculative profile, the dilution and runway risk, and their own ability to absorb a large loss. Walnut provides information, not investment advice.
How does Ocean Power Technologies make money, and is it profitable?
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OPTT earns revenue by selling and leasing PowerBuoy systems, WAM-V vessels, and related maritime services and software to defense, security, and research customers. It is not profitable: fiscal 2025 revenue was about $5.9 million against a net loss near $21.5 million, and quarterly revenue is small and lumpy. The company depends on outside financing to keep operating while it tries to scale its order book.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Ocean Power Technologies, Inc.'s investor relations page or your broker before making investment decisions.