Ocean Power Technologies, Inc. (NASDAQ:OPTT - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.48 and traded as high as $0.49. Ocean Power Technologies shares last traded at $0.43, with a volume of 3,272,917 shares trading hands.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised Ocean Power Technologies to a "sell" rating in a research report on Tuesday, March 4th.
View Our Latest Report on Ocean Power Technologies
Ocean Power Technologies Trading Down 1.5 %
The stock has a market capitalization of $68.82 million, a price-to-earnings ratio of -1.25 and a beta of 2.51. The company has a fifty day moving average of $0.52 and a two-hundred day moving average of $0.49.
Institutional Trading of Ocean Power Technologies
Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC lifted its position in Ocean Power Technologies by 57.9% during the 4th 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 last quarter. Arkadios Wealth Advisors acquired a new stake in Ocean Power Technologies in the 4th quarter valued at approximately $102,000. SBI Securities Co. Ltd. acquired a new stake in Ocean Power Technologies in the 4th quarter valued at approximately $291,000. Penbrook Management LLC bought a new position in Ocean Power Technologies in the 4th quarter worth approximately $32,000. Finally, Sargent Investment Group LLC lifted its holdings in shares of Ocean Power Technologies by 164.0% during the fourth quarter. Sargent Investment Group LLC now owns 528,000 shares of the energy company's stock worth $539,000 after buying an additional 328,000 shares during the last quarter. 11.93% of the stock is currently 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.
Recommended 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
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
