OPTT Stock | | | USD 0.30 0 0.57% |
Ocean Power financial indicator trend analysis is much more than just breaking down Ocean Power Technologies prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Ocean Power Technologies is a good investment. Please check the relationship between Ocean Power Cash and its Net Receivables accounts. Check out
Your Equity Center to better understand how to build diversified portfolios, which includes a position in Ocean Power Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in estimate.
Cash vs Net Receivables
Cash vs Net Receivables Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
Ocean Power Technologies Cash account and
Net Receivables. At this time, the significance of the direction appears to have significant contrarian relationship.
The correlation between Ocean Power's Cash and Net Receivables is -0.21. Overlapping area represents the amount of variation of Cash that can explain the historical movement of Net Receivables in the same time period over historical financial statements of Ocean Power Technologies, assuming nothing else is changed. The correlation between historical values of Ocean Power's Cash and Net Receivables is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Cash of Ocean Power Technologies are associated (or correlated) with its Net Receivables. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Receivables has no effect on the direction of Cash i.e., Ocean Power's Cash and Net Receivables go up and down completely randomly.
Correlation Coefficient | -0.21 |
Relationship Direction | Negative |
Relationship Strength | Insignificant |
Cash
Cash refers to the most liquid asset of Ocean Power Technologies, which is listed under current asset account on Ocean Power Technologies balance sheet and usually includes currency, coins, checking accounts, and not deposited checks received from Ocean Power customers. The amounts must be unrestricted with restricted cash listed in a different Ocean Power account. The total amount of money in the form of currency that a company has in its possession. This includes all bills, coins, and funds in bank accounts.
Net Receivables
Most indicators from Ocean Power's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Ocean Power Technologies current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out
Your Equity Center to better understand how to build diversified portfolios, which includes a position in Ocean Power Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in estimate.
At this time, Ocean Power's
Selling General Administrative is comparatively stable compared to the past year.
Sales General And Administrative To Revenue is likely to gain to 12.92 in 2024, whereas
Tax Provision is likely to drop (1.3
M) in 2024.
Ocean Power fundamental ratios Correlations
Click cells to compare fundamentals
Ocean Power Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Ocean Power fundamental ratios Accounts
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Additional Tools for Ocean Stock Analysis
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measure Ocean Power's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Ocean Power is operating at the current time. Most of Ocean Power's value examination focuses on studying past and present price action to
predict the probability of Ocean Power's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Ocean Power's price. Additionally, you may evaluate how the addition of Ocean Power to your portfolios can decrease your overall portfolio volatility.