Shares of Ocean Power Technologies, Inc. (OPTT) surged 43% on Tuesday after the company announced partnership with Unique Group for autonomous vehicle services in the Middle East.
OPTT is currently trading at $0.3962, up $0.1200 or 43.4468%, on a huge volume of 183 million shares, compared to average volume of about 14 million, on the Nasdaq. The stock opened its trading at $0.4500 after closing Monday at $0.2762. The stock has traded between $0.1200 and $0.7700 in the past 52-week period.
Ocean Power Technologies announced it has partnered with Unique Group, a UAE headquartered global innovator in subsea technologies and engineering. Unique Group and Ocean Power will collaborate to deploy Ocean Power's existing WAM-V Unmanned Surface Vehicles in the UAE and other countries in the Gulf Collaboration Council region.
Commenting on the partnership, Ocean Power CEO Philipp Stratmann, said, "Working with Unique Group will further accelerate our efforts to deploy USVs globally. We are very excited about the prospects of expanding into the UAE and applaud the local industry's forward thinking in adopting autonomous technologies."
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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.