New York, January 7, 2026, 05:46 EST — Premarket
Ocean Power Technologies shares rose 3.6% in premarket trading on Wednesday after the company disclosed a new multi-buoy contract tied to a U.S. Department of Homeland Security project. The stock had closed up about 25% on Tuesday at $0.4302.
The move matters for Ocean Power because the small-cap name tends to trade on contract headlines, and investors are looking for signs that its offshore power-and-data platforms can win repeat work with U.S. agencies. A named U.S. federal mission can also sharpen attention on delivery timing and follow-on awards.
The company said the contract is worth more than $5 million and covers deployment and operation of MERROWS-equipped PowerBuoy systems for a U.S. Coast Guard mission under DHS, aimed at boosting “maritime domain awareness” — a real-time picture of activity at sea. Ocean Power said four surveillance-equipped buoys will be deployed off San Diego and will feed sensor data into Anduril’s Lattice command-and-control system alongside Anduril surveillance towers; Ocean Power’s Jason Weed cited “growing demand for long-endurance” systems, while Anduril executive Peter Babb said the setup gives operators a “more actionable picture.” SEC
Traders are also parsing whether the project is mainly a one-off demonstration or a template for broader deployments, given the contract includes operating the systems — a structure that can bring service revenue but depends on performance in the field.
On Tuesday, the stock traded between $0.3720 and $0.4549 and saw volume of about 89.4 million shares, an unusually heavy day for the thinly traded name and a sign that momentum buyers were active after the disclosure.
But the rally carries familiar risks for micro-cap stocks: execution hiccups offshore, shifting procurement priorities, or a lack of follow-on work could quickly unwind gains after a headline-driven spike.
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