Ocean Power Technologies (NASDAQ:OPTT - Get Free Report) was upgraded by equities research analysts at StockNews.com to a "sell" rating in a research report issued to clients and investors on Tuesday.
Ocean Power Technologies Stock Down 0.8 %
Shares of NASDAQ OPTT traded down $0.00 during midday trading on Tuesday, hitting $0.50. The stock had a trading volume of 3,715,127 shares, compared to its average volume of 19,937,670. Ocean Power Technologies has a 1-year low of $0.12 and a 1-year high of $1.75. The company has a fifty day moving average price of $0.81 and a 200 day moving average price of $0.42. The company has a market capitalization of $73.19 million, a price-to-earnings ratio of -1.57 and a beta of 2.57.
Institutional Trading of Ocean Power Technologies
Institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC purchased a new position in Ocean Power Technologies in the fourth quarter valued at about $26,000. Penbrook Management LLC purchased a new stake in shares of Ocean Power Technologies during the 4th quarter valued at about $32,000. Arkadios Wealth Advisors acquired a new position in Ocean Power Technologies during the 4th quarter worth approximately $102,000. 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 in the last quarter. Finally, Sargent Investment Group LLC purchased a new position in Ocean Power Technologies in the 3rd quarter worth approximately $31,000. 11.93% of the stock is 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.
See Also
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 guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
