Ocean Power Technologies (OPTT) and Lockheed Martin Corp. (LMT) announced Tuesday morning that they signed a commercial engineering services agreement to develop OPT's wave energy systems for use in future utility-scale power generation projects.
Ocean Power Technologies broke out around mid-morning Tuesday and climbed throughout the first half of the afternoon. Shares finished up by $2.40 at $7.72 on the highest volume of the year. The stock re-crossed its 200-day moving average and surged to over a 9-month high.
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