Ocean Power Technologies shares fall 21% after reverse split announcement
- Shares fell 21.69% after-hours to $0.13 following reverse split news
- 1-for-30 split takes effect September 14, 2026 on NYSE American
- Post-split outstanding shares expected to be approximately 9.1 million
- Preferred stock purchase rights adjusted from $2.25 to $67.50
- Stock is down 71.93% over the past year with $42.90m market cap
*this image is generated using AI for illustrative purposes only.
Ocean Power Technologies Inc. (NYSE: OPTT) shares fell 21.69% in after-hours trading on Thursday, dropping to $0.13 from a regular session close of $0.16. The decline followed the company’s announcement of a 1-for-30 reverse stock split.
The reverse split is designed to increase the per-share price to enhance marketability and liquidity. Shares will begin trading on a split-adjusted basis when the NYSE American opens on September 14, 2026.
Corporate Action Details
Under the plan, every 30 outstanding common shares will be combined into one share. No fractional shares will be issued; holders entitled to fractions will receive one whole share instead. The company expects approximately 9.1 million shares to be issued and outstanding immediately after the split.
In connection with the action, the purchase price of the company’s preferred stock purchase rights under its Section 382 Tax Benefits Preservation Plan was adjusted from $2.25 to $67.50 per one one-thousandth of a share of Series A Participating Preferred Stock. Further details are expected in a Form 8-K filing on September 11, 2026.
| Detail | Information |
|---|---|
| Company | Ocean Power Technologies Inc. |
| Ticker | NYSE: OPTT |
| Action | 1-for-30 Reverse Stock Split |
| Effective Date | September 14, 2026 |
| Exchange | NYSE American |
| Post-Split Shares | ~9.1 million |
| Objective | Improve marketability and liquidity |
Trading Metrics
Ocean Power Technologies has a market capitalization of $42.90 million. The stock has traded between a 52-week high of $0.72 and a low of $0.13 over the past year, representing a decline of 71.93% year-over-year. Analyst rankings indicate a negative price trend across short-, medium-, and long-term time frames.
Will the 1-for-30 reverse split successfully restore sufficient liquidity to prevent delisting risks, or is it likely to further alienate retail investors?
How does the adjustment of the poison pill purchase price to $67.50 impact the company's vulnerability to hostile takeovers or activist investor campaigns?
Given the 71.93% year-over-year decline, what fundamental operational changes or revenue catalysts are required for OPTT to sustain a higher per-share price post-split?
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