Ocean Power Technologies, Inc. (NASDAQ:OPTT - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.43 and traded as high as $0.56. Ocean Power Technologies shares last traded at $0.50, with a volume of 6,075,066 shares.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded shares of Ocean Power Technologies to a "sell" rating in a research report on Tuesday, March 4th.
Check Out Our Latest Research Report on Ocean Power Technologies
Ocean Power Technologies Stock Up 20.1 %
The firm has a fifty day moving average of $0.76 and a 200-day moving average of $0.44. The stock has a market capitalization of $89.46 million, a price-to-earnings ratio of -1.91 and a beta of 2.57.
Institutional Investors Weigh In On Ocean Power Technologies
A number of large investors have recently added to or reduced their stakes in the business. Arkadios Wealth Advisors purchased a new stake in Ocean Power Technologies in the 4th quarter valued at approximately $102,000. Penbrook Management LLC acquired a new position in shares of Ocean Power Technologies in the fourth quarter worth $32,000. Sargent Investment Group LLC lifted its position in shares of Ocean Power Technologies by 164.0% in the fourth quarter. Sargent Investment Group LLC now owns 528,000 shares of the energy company's stock valued at $539,000 after acquiring an additional 328,000 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Ocean Power Technologies in the fourth quarter valued at $291,000. Finally, Virtu Financial LLC boosted its stake in shares of Ocean Power Technologies by 57.9% during the fourth quarter. Virtu Financial LLC now owns 111,182 shares of the energy company's stock valued at $113,000 after acquiring an additional 40,772 shares during the last quarter. 11.93% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
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