Ocean Power Technologies, Inc. (NASDAQ:OPTT - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.40 and traded as high as $0.71. Ocean Power Technologies shares last traded at $0.68, with a volume of 3,858,890 shares trading hands.
Analyst Ratings Changes
Separately, StockNews.com raised shares of Ocean Power Technologies to a "sell" rating in a report on Friday, January 31st.
View Our Latest Research Report on Ocean Power Technologies
Ocean Power Technologies Trading Down 5.7 %
The stock has a market capitalization of $94.11 million, a price-to-earnings ratio of -2.01 and a beta of 2.58. The company's 50 day moving average is $0.77 and its 200 day moving average is $0.40.
Institutional Trading of Ocean Power Technologies
Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Ocean Power Technologies by 35.3% during the 4th quarter. Geode Capital Management LLC now owns 1,012,955 shares of the energy company's stock worth $1,033,000 after buying an additional 264,382 shares during the last quarter. Sargent Investment Group LLC grew its position in shares of Ocean Power Technologies by 164.0% during the fourth quarter. Sargent Investment Group LLC now owns 528,000 shares of the energy company's stock worth $539,000 after acquiring an additional 328,000 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Ocean Power Technologies in the 4th quarter valued at $291,000. Virtu Financial LLC raised its position in Ocean Power Technologies by 57.9% in the 4th quarter. Virtu Financial LLC now owns 111,182 shares of the energy company's stock valued at $113,000 after purchasing an additional 40,772 shares during the last quarter. Finally, Arkadios Wealth Advisors acquired a new stake in Ocean Power Technologies during the 4th quarter worth $102,000. Institutional investors and hedge funds own 11.93% of the company's stock.
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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