Ocean Power Technologies is trading at $1.85 (-9.76%) after extending its sharp post-earnings decline following a $10.537 million Q1 fiscal 2027 net loss and $1.28 loss per share.
- Revenue rose 44% to $1.703 million, but expenses, operating losses, and cash concerns overshadowed growth.
- The company announced a strategic alternatives review and appointed an acting CEO after its prior CEO stepped down.
- Trading remains exceptionally volatile following the 1-for-30 reverse stock split and the prior session’s -24.91% close.