Ocean Power Technologies (OPTT) Sinks on Stock Offering Chatter

October 14, 2016 8:35 AM EDT

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Ocean Power Technologies (Nasdaq: OPTT) shares are lower in early trading. Market chatter has the company's 2.5 million common stock offering pricing at $2.75 per share, compared with the stock's closing price at $4.02 on Thursday night.

Shares of OPTT are down 28 percent in premarket action. Notably, the stock is up over 90 percent YTD 2016 ahead of today's trading session.

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