Here’s Why These Five Stocks Are Trading Higher Today

Ocean Power Technologies Inc (NASDAQ:OPTT) stock has advanced by around 9% today, extending its gains for the year to more than 277%, although no significant news seem to stand behind the surge. Last week, the company announced a new contract worth $250,000 from the U.S. Department of Defense Office of Naval Research (ONR), which involves the design of a new mass-spring oscillating PowerBuoy for mission critical sensors. The company also said that the contract allows for two subsequent phases, valued together at nearly $750,000, dependent on certain conditions. These conditions include successful completion of phase one and additional ONR funding. The deal may also involve designing of the power conversion system and power generation system.

Myokardia Inc (NASDAQ:MYOK) stock is up by 7% after the company announced the pricing of its proposed common stock public offering of 3.8 million shares at a public offering price of $15.00 per share, before accounting for underwriting discounts. The underwriters are given a 30-day option to purchase up to an additional 570,000 shares of common stock on the same terms and conditions. Six funds from our database hold about $35 million worth of Myokardia stock as of the end of June, which represents roughly 10.60% of Myokardia’s outstanding stock.

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