Does OPTT have any shorts left?
7/25/2024 08:25pm
Based on the latest data, it appears that Ocean Power Technologies (OPTT) has a significant number of short sellers currently experiencing a squeeze.
1. **Short Interest**: As of the latest data, the short interest in OPTT is 4,140,933 shares. This represents a substantial percentage of the float, indicating a high concentration of short positions.
2. **Short Squeeze Score**: The Short Squeeze Score is a quantitative model that identifies companies at risk of experiencing a short squeeze. OPTT has a high Short Squeeze Score, which suggests that the company is indeed at risk of a short squeeze.
3. **Stock Performance**: OPTT has seen a substantial increase in its stock price, with a 1-month percentage change of 157.45%. This significant rise suggests that short sellers may be experiencing losses, which could lead to a short squeeze.
4. **Trading Volume**: The trading volume for OPTT was 6.84 million shares, which is a critical factor in a potential short squeeze. High trading volume can indicate increased market participation and potential for a squeeze.
5. **Technical Indicators**: The stock is currently trading above its 50-day and 200-day moving averages. This could be a bullish signal for continued upward momentum, which could contribute to a short squeeze as short sellers may be forced to cover their positions to reduce losses.
While we cannot provide real-time data, the available information strongly suggests that there are still short sellers in OPTT, but the extent of their remaining positions is not clear. The current conditions indicate that a significant number of short sellers are likely experiencing a squeeze, but the exact number of remaining short positions is not explicitly provided.