Ocean Power Technologies, Inc. (NASDAQ:OPTT - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen upgraded Ocean Power Technologies to a "sell" rating in a research note on Tuesday, March 4th.
Check Out Our Latest Stock Report on Ocean Power Technologies
Ocean Power Technologies Stock Down 5.0%
The stock's fifty day moving average is $0.45 and its two-hundred day moving average is $0.55. The firm has a market capitalization of $81.43 million, a price-to-earnings ratio of -1.48 and a beta of 2.64.
Institutional Trading of Ocean Power Technologies
Hedge funds have recently made changes to their positions in the business. Sargent Investment Group LLC raised its stake in Ocean Power Technologies by 164.0% in the 4th quarter. Sargent Investment Group LLC now owns 528,000 shares of the energy company's stock valued at $539,000 after acquiring an additional 328,000 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Ocean Power Technologies during the 4th quarter worth approximately $291,000. Virtu Financial LLC grew its holdings in Ocean Power Technologies by 57.9% in the 4th quarter. Virtu Financial LLC now owns 111,182 shares of the energy company's stock valued at $113,000 after buying an additional 40,772 shares in the last quarter. LPL Financial LLC acquired a new position in Ocean Power Technologies in the 4th quarter valued at $26,000. Finally, Geode Capital Management LLC increased its position in Ocean Power Technologies by 35.3% during the 4th quarter. Geode Capital Management LLC now owns 1,012,955 shares of the energy company's stock worth $1,033,000 after buying an additional 264,382 shares during the period. 11.93% of the stock is owned by institutional investors and hedge funds.
Ocean Power Technologies Company Profile
(
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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