Ocean Power Technologies, Inc. (NASDAQ:OPTT - Get Free Report) was the recipient of unusually large options trading activity on Thursday. Stock investors purchased 5,605 call options on the company. This represents an increase of 120% compared to the typical volume of 2,545 call options.
Institutional Trading of Ocean Power Technologies
A hedge fund recently bought a new stake in Ocean Power Technologies stock. Sargent Investment Group LLC acquired a new position in Ocean Power Technologies, Inc. (NASDAQ:OPTT - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 200,000 shares of the energy company's stock, valued at approximately $31,000. Sargent Investment Group LLC owned about 0.20% of Ocean Power Technologies at the end of the most recent quarter. Institutional investors and hedge funds own 11.93% of the company's stock.
Ocean Power Technologies Stock Performance
Shares of NASDAQ OPTT traded up $0.12 during mid-day trading on Thursday, reaching $0.45. 87,795,555 shares of the company traded hands, compared to its average volume of 14,911,631. Ocean Power Technologies has a fifty-two week low of $0.12 and a fifty-two week high of $0.82. The company's fifty day moving average is $0.25 and its two-hundred day moving average is $0.23. The stock has a market cap of $66.17 million, a PE ratio of -1.13 and a beta of 2.85.
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.
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