Ocean Power Technologies, Inc. (NASDAQ:OPTT - Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.34 and traded as high as $0.95. Ocean Power Technologies shares last traded at $0.84, with a volume of 17,595,919 shares trading hands.
Analyst Upgrades and Downgrades
Separately, StockNews.com assumed coverage on Ocean Power Technologies in a report on Tuesday, December 31st. They issued a "sell" rating for the company.
Get Our Latest Stock Analysis on Ocean Power Technologies
Ocean Power Technologies Stock Performance
The firm has a market capitalization of $123.51 million, a PE ratio of -2.64 and a beta of 2.63. The business's 50 day moving average is $0.60 and its two-hundred day moving average is $0.34.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Sargent Investment Group LLC bought a new stake in Ocean Power Technologies during the third quarter valued at $31,000. Penbrook Management LLC bought a new stake in shares of Ocean Power Technologies during the 4th quarter valued at about $32,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of Ocean Power Technologies during the fourth quarter worth about $102,000. 11.93% of the stock is currently owned by hedge funds and other institutional investors.
About Ocean Power Technologies
(
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.
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