Ocean Power Technologies (NASDAQ:OPTT) Shares Pass Above 200 Day Moving Average - Should You Sell?

Shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.51 and traded as high as $0.58. Ocean Power Technologies shares last traded at $0.55, with a volume of 8,436,349 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on OPTT shares. Zacks Research upgraded Ocean Power Technologies to a "hold" rating in a research note on Friday, September 26th. LADENBURG THALM/SH SH started coverage on Ocean Power Technologies in a research note on Wednesday, September 24th. They issued a "buy" rating and a $1.50 price target for the company. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Ocean Power Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $1.50.

Ocean Power Technologies Trading Down 2.9%

The company has a 50 day moving average price of $0.52 and a 200 day moving average price of $0.51. The company has a market capitalization of $101.02 million, a P/E ratio of -1.73 and a beta of 2.44.

Ocean Power Technologies (NASDAQ:OPTT - Get Free Report) last issued its earnings results on Monday, September 15th. The energy company reported ($0.04) EPS for the quarter. Ocean Power Technologies had a negative return on equity of 97.03% and a negative net margin of 304.91%.During the same period in the prior year, the company earned ($0.05) EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in shares of Ocean Power Technologies by 31,555.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 68,693 shares of the energy company's stock worth $33,000 after acquiring an additional 68,476 shares during the period. Baader Bank Aktiengesellschaft boosted its stake in Ocean Power Technologies by 349.2% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 100,000 shares of the energy company's stock valued at $47,000 after purchasing an additional 77,738 shares during the period. SBI Securities Co. Ltd. boosted its stake in Ocean Power Technologies by 29.4% in the 2nd quarter. SBI Securities Co. Ltd. now owns 374,187 shares of the energy company's stock valued at $178,000 after purchasing an additional 84,920 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Ocean Power Technologies by 15.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,796,592 shares of the energy company's stock valued at $853,000 after purchasing an additional 236,542 shares during the period. 11.93% of the stock is currently owned by institutional investors.

Ocean Power Technologies Company Profile

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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