Ocean Power Ships First PowerBuoy for Homeland Security

Ocean Power Technologies ( (OPTT) ) has shared an update.

On March 24, 2026, Ocean Power Technologies announced it has shipped the first PowerBuoy® system under its previously disclosed $6.5 million contract with the U.S. Department of Homeland Security. The unit will support U.S. Coast Guard maritime domain awareness operations, marking the shift from system development and integration to operational deployment off the coast of California.

The initial shipment is a key milestone in OPT’s efforts to deliver autonomous, low-carbon offshore surveillance infrastructure for U.S. national security missions. By advancing integration with partner Anduril’s systems and preparing a broader PowerBuoy network for deployment, the contract strengthens OPT’s role in maritime security technology and underscores the commercial traction of its offshore monitoring solutions.

The most recent analyst rating on (OPTT) stock is a Buy with a $1.50 price target. To see the full list of analyst forecasts on Ocean Power Technologies stock, see the OPTT Stock Forecast page.

Spark’s Take on OPTT Stock

According to Spark, TipRanks’ AI Analyst, OPTT is a Neutral.

The score is held down primarily by weak financial performance (persistent losses, negative TTM gross profit, and ongoing cash burn). Technicals also reflect a downtrend and negative momentum. Offsetting these risks, the latest earnings call and recent updates point to improving commercial traction via record backlog/pipeline and major government awards, but execution and margin recovery remain key.

To see Spark’s full report on OPTT stock, click here.

More about Ocean Power Technologies

Ocean Power Technologies, Inc., based in Monroe Township, N.J., provides intelligent maritime solutions and services for the defense and security, oil and gas, science and research, and offshore wind markets. Its portfolio includes low-carbon PowerBuoy® platforms for remote power and data, Merrows™ maritime domain awareness integration, and WAM-V® autonomous surface vessels, supported by offices in New Jersey and California.

The company focuses on enabling safer, cleaner and more productive ocean operations through autonomous systems and marine robotics. By targeting mission-critical applications such as surveillance, monitoring and offshore infrastructure support, OPT positions itself as a technology partner for government agencies and industrial customers seeking persistent offshore capabilities.

Average Trading Volume: 14,567,442

Technical Sentiment Signal: Strong Sell

Current Market Cap: $86.12M

For a thorough assessment of OPTT stock, go to TipRanks’ Stock Analysis page.