Shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-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 started coverage on Ocean Power Technologies in a report on Tuesday, December 31st. They set a "sell" rating on the stock.
Check Out Our Latest Stock Report on OPTT
Ocean Power Technologies Trading Up 0.6 %
The firm's fifty day moving average price is $0.58 and its two-hundred day moving average price is $0.34. The stock has a market capitalization of $123.51 million, a PE ratio of -2.64 and a beta of 2.63.
Institutional Investors Weigh In On Ocean Power Technologies
Hedge funds have recently modified their holdings of the company. Penbrook Management LLC acquired a new position in Ocean Power Technologies in the 4th quarter worth about $32,000. Arkadios Wealth Advisors purchased a new stake in shares of Ocean Power Technologies in the fourth quarter valued at approximately $102,000. Finally, Sargent Investment Group LLC acquired a new position in shares of Ocean Power Technologies during the 3rd quarter worth approximately $31,000. 11.93% of the stock is owned by hedge funds and other institutional investors.
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.
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