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Ocean Power Technologies (OPTT) has 2 splits in our OPTT split history database. The first split for OPTT took place on October 29, 2015. This was a 1 for 10 reverse split, meaning for each 10 shares of OPTT owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 100 share position following the split. OPTT's second split took place on March 12, 2019. This was a 1 for 20 reverse split, meaning for each 20 shares of OPTT owned pre-split, the shareholder now owned 1 share. For example, a 100 share position pre-split, became a 5 share position following the split.
When a company such as Ocean Power Technologies conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.
Looking at the OPTT split history from start to finish, an original position size of 1000 shares would have turned into 5 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Ocean Power Technologies shares, starting with a $10,000 purchase of OPTT, presented on a split-history-adjusted basis factoring in the complete OPTT split history.
Growth of $10,000.00
Without Dividends Reinvested
|Average Annual Total Return:||-51.78%|
|About Ocean Power Technologies|
|Ocean Power Technologies is developing and commercializing its proprietary systems that generate electricity by harnessing the renewable energy of ocean waves. Co. uses proprietary technologies that convert the mechanical energy created by the heaving motion of ocean waves into electricity. Co.'s principal product is its PB3 PowerBuoy®, which is designed to generate power for use independent of the power grid in remote offshore locations. It consists of a main hull structure loosely moored to the seabed and surrounded by a floating buoy-like device that can freely move up and down in response to the passage of the waves. According to our OPTT split history records, Ocean Power Technologies has had 2 splits.|
|OPTT Split History Table|
|10/29/2015||1 for 10|
|03/12/2019||1 for 20|
|Utilities Stock Splits|
|OPTT is categorized under the Utilities sector; below are some other companies in the same sector that also have a history of stock splits:
Also explore: OPTT shares outstanding history