Ocean Power Technologies (OPTT) Stock Drops Sharply After Hours: Here's Why - Ocean Power Techs (AMEX:OPT

Ocean Power Technologies, Inc. (NASDAQ:OPTT) shares fell 21.69% in after-hours trading Thursday after the company announced a reverse stock split.

The stock closed Thursday’s regular session up 0.76% at $0.16. It then fell 21.69% to $0.13 in after-hours trading.

Ocean Power Technologies provides maritime operational infrastructure and autonomous ocean systems, including its PowerBuoy platforms and WAM-V unmanned surface vessels.

Reverse Stock Split

The company announced a 1-for-30 reverse stock split of its common stock on Thursday. Shares are expected to begin trading on a split-adjusted basis on the NYSE American at the market open on September 14, 2026.