Shares of Ocean Power Technologies, Inc. (OPTT) surged over 68% on Wednesday morning after the company reached a deal with the US government to deliver multiple unmanned surface vehicles.
OPTT is currently trading at $0.2260, up $0.0917 or 68.0267%, on a huge volume of 212 million shares, above average volume of 2.8 million, on the Nasdaq. The stock opened its trading at $0.1833 after closing Tuesday at $0.1343. The stock has traded between $0.1200 and $0.7700 in the past 52-week period.
Ocean Power announced it has reached an agreement in principle on a sole source contract award for multiple WAM-Vs for delivery to a Department of the US Government. The final contract award will be a Firm-Fixed-Price purchase order on a noncompetitive basis.
Terms of the deal have not been disclosed.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.