Ocean Power Technologies, Inc. (NASDAQ:OPTT - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.45 and traded as high as $0.54. Ocean Power Technologies shares last traded at $0.53, with a volume of 6,430,841 shares changing hands.
Wall Street Analyst Weigh In
Separately, StockNews.com raised shares of Ocean Power Technologies to a "sell" rating in a research note on Tuesday, March 4th.
Check Out Our Latest Analysis on OPTT
Ocean Power Technologies Price Performance
The stock has a market capitalization of $92.13 million, a P/E ratio of -1.69 and a beta of 2.57. The stock has a fifty day moving average price of $0.68 and a 200 day moving average price of $0.45.
Institutional Trading of Ocean Power Technologies
A number of institutional investors have recently modified their holdings of the company. LPL Financial LLC bought a new position in Ocean Power Technologies in the fourth quarter worth $26,000. Penbrook Management LLC purchased a new position in shares of Ocean Power Technologies in the fourth quarter worth approximately $32,000. Arkadios Wealth Advisors bought a new stake in Ocean Power Technologies during the fourth quarter valued at approximately $102,000. Virtu Financial LLC raised 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 acquiring an additional 40,772 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Ocean Power Technologies during the 4th quarter worth $291,000. 11.93% of the stock is currently owned by hedge funds and other institutional investors.
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.
Featured Stories
Before you consider Ocean Power Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ocean Power Technologies wasn't on the list.
While Ocean Power Technologies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
