Shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.54 and traded as high as $0.55. Ocean Power Technologies shares last traded at $0.54, with a volume of 2,677,419 shares trading hands.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen raised Ocean Power Technologies to a "sell" rating in a research note on Tuesday, March 4th.
Get Our Latest Research Report on Ocean Power Technologies
Ocean Power Technologies Stock Down 2.9%
The firm has a market cap of $85.75 million, a price-to-earnings ratio of -1.56 and a beta of 2.64. The stock has a 50 day moving average of $0.45 and a 200 day moving average of $0.55.
Institutional Trading of Ocean Power Technologies
Institutional investors and hedge funds have recently modified their holdings of the business. LPL Financial LLC bought a new position in Ocean Power Technologies in the fourth quarter valued at about $26,000. Penbrook Management LLC bought a new position in Ocean Power Technologies in the fourth quarter valued at about $32,000. 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 valued at $113,000 after purchasing an additional 40,772 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Ocean Power Technologies in the fourth quarter valued at about $291,000. Finally, Sargent Investment Group LLC raised its position in Ocean Power Technologies by 164.0% in the fourth quarter. Sargent Investment Group LLC now owns 528,000 shares of the energy company's stock valued at $539,000 after purchasing an additional 328,000 shares during the last quarter. 11.93% of the stock is currently owned by 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.
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