Ocean Power Technologies (OPTT) Rises on Contract Award for WAM-Vs

May 05, 2025

Summary:

Ocean Power Technologies (OPTT, Financial) experienced a significant pre-market surge of 10.4%.
The rise follows a newly secured contract to supply WAM-Vs to Allied Forces.
Deliveries for this milestone agreement are expected by spring 2025, marking a pivotal move in maritime defense initiatives.

Contract Boosts Ocean Power Technologies' Market Position

Ocean Power Technologies (OPTT) recently announced a noteworthy development that sent its stock climbing by 10.4% in pre-market trading. This uptick is attributed to a newly inked contract under which the company will provide Wave Adaptive Modular Vessels (WAM-Vs) to Allied Forces.

Impact on the Maritime Security Sector

This strategic agreement considerably strengthens Ocean Power Technologies' foothold in the maritime security arena. By committing to deliver these innovative vessels by spring 2025, the company is positioning itself as a key player in underwater and seabed defense operations. This move is poised to cement its reputation for delivering cutting-edge solutions in maritime security.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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