Ocean Power Technologies shares fell 21.69% to $0.13 in after-hours trading Thursday after the company announced a 1-for-30 reverse stock split. The stock had closed the regular session up 0.76% at $0.16. The split is scheduled to take effect at the NYSE American market open on September 14, 2026, with every 30 common shares combined into one. Stockholders otherwise entitled to fractional shares will receive one whole share. The company expects approximately 9.1 million common shares to be issued and outstanding immediately after the split. Ocean Power Technologies said the measure is intended to raise its per-share price and improve the stock's marketability and liquidity. Its market capitalization was $42.90 million, while the stock's 52-week range was $0.13 to $0.72 and its one-year decline was 71.93%.