Ocean Power Technologies (NASDAQ:OPTT) Shares Pass Above 200-Day Moving Average - What's Next?

Ocean Power Technologies, Inc. (NASDAQ:OPTT - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.31 and traded as high as $0.95. Ocean Power Technologies shares last traded at $0.86, with a volume of 25,859,598 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Ocean Power Technologies in a report on Tuesday, December 31st. They set a "sell" rating for the company.

Ocean Power Technologies Stock Up 15.3 %

The stock has a market capitalization of $144.58 million, a price-to-earnings ratio of -3.09 and a beta of 2.63. The stock has a fifty day moving average of $0.49 and a 200-day moving average of $0.32.

Institutional Investors Weigh In On Ocean Power Technologies

An institutional investor recently bought a new position in Ocean Power Technologies stock. Arkadios Wealth Advisors bought a new position in shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 100,000 shares of the energy company's stock, valued at approximately $102,000. Arkadios Wealth Advisors owned approximately 0.07% of Ocean Power Technologies as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 11.93% of the company's stock.

Ocean Power Technologies Company Profile

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.