Ocean Power Technologies, Inc. (NASDAQ:OPTT - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.38 and traded as high as $0.80. Ocean Power Technologies shares last traded at $0.80, with a volume of 5,562,561 shares trading hands.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised shares of Ocean Power Technologies to a "sell" rating in a report on Friday, January 31st.
Get Our Latest Report on OPTT
Ocean Power Technologies Price Performance
The firm has a market capitalization of $103.50 million, a P/E ratio of -2.21 and a beta of 2.58. The firm's fifty day moving average price is $0.75 and its 200-day moving average price is $0.39.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of OPTT. Sargent Investment Group LLC lifted its holdings in Ocean Power Technologies by 164.0% in the 4th quarter. Sargent Investment Group LLC now owns 528,000 shares of the energy company's stock valued at $539,000 after acquiring an additional 328,000 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Ocean Power Technologies in the 4th quarter worth approximately $291,000. Geode Capital Management LLC lifted its stake in Ocean Power Technologies by 35.3% during the fourth quarter. Geode Capital Management LLC now owns 1,012,955 shares of the energy company's stock valued at $1,033,000 after purchasing an additional 264,382 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in Ocean Power Technologies during the fourth quarter worth approximately $102,000. Finally, Virtu Financial LLC grew its position in Ocean Power Technologies by 57.9% in the fourth quarter. Virtu Financial LLC now owns 111,182 shares of the energy company's stock worth $113,000 after buying an additional 40,772 shares during the last quarter. Institutional investors own 11.93% of the company's stock.
Ocean Power Technologies Company Profile
(
Get Free Report)
Ocean Power Technologies, Inc develops and commercializes proprietary power platforms that generate electricity by harnessing the renewable energy of ocean waves in North America, South America, Australia, and Asia. It offers PB3 PowerBuoy that generates power for use independent of the power grid in offshore locations.
Recommended Stories
Before you consider Ocean Power Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ocean Power Technologies wasn't on the list.
While Ocean Power Technologies currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
