Ocean Power Technologies, Inc. (NASDAQ:OPTT - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 changing hands.
Analyst Ratings Changes
Separately, StockNews.com raised Ocean Power Technologies to a "sell" rating in a research report on Friday, January 31st.
View Our Latest Report on OPTT
Ocean Power Technologies Trading Down 6.5 %
The firm has a market capitalization of $108.51 million, a price-to-earnings ratio of -2.32 and a beta of 2.58. The company has a 50-day moving average of $0.73 and a 200-day moving average of $0.38.
Institutional Investors Weigh In On Ocean Power Technologies
Institutional investors and hedge funds have recently made changes to their positions in the company. LPL Financial LLC acquired a new stake in shares of Ocean Power Technologies during the 4th quarter valued at approximately $26,000. Penbrook Management LLC acquired a new stake in Ocean Power Technologies in the fourth quarter worth $32,000. Arkadios Wealth Advisors acquired a new stake in Ocean Power Technologies in the fourth quarter worth $102,000. Virtu Financial LLC increased 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 period. Finally, Sargent Investment Group LLC acquired a new stake in Ocean Power Technologies in the third quarter worth $31,000. 11.93% of the stock is owned by institutional investors and hedge funds.
About Ocean Power Technologies
(
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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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