A few weeks ago, I reviewed most of the major solar stocks in my Solar’s Eleven post, but all cleverness aside, what if I didn’t have to change the original name of the movie, that being Ocean’s Eleven?
It’s too soon to list eleven different ocean plays, only one of these stocks — Ocean Power Technologies (Nasdaq: OPTT) — looks interesting right now, bouncing 15% on Wednesday, b
ottoming perfectly off $12. Volume was only 150k, but that’s double the daily norm, so this one’s still under the radar. Their latest earnings report does a good job summarizing their biz; they basically use waves for energy via their special buoys.
There’s lots of obstacles and it’s very early in the game — even though they’ve been around since 1984, revenues are only a few million and they have a ton of competition, but their recent IPO gave them some much needed cash.
I like this bottom at $12, but now that the stock is already at $14, I wouldn’t be rushing into it, it’s just one to watch…especially as an alternative play to all the alternative energy stocks, which have recently caught on fire…
No position
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