Ocean Power Technologies, Inc. (NASDAQ:OPTT - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.53 and traded as high as $0.56. Ocean Power Technologies shares last traded at $0.53, with a volume of 3,892,536 shares trading hands.
Analyst Ratings Changes
Separately, StockNews.com raised shares of Ocean Power Technologies to a "sell" rating in a research report on Tuesday, March 4th.
Check Out Our Latest Report on Ocean Power Technologies
Ocean Power Technologies Price Performance
The firm has a fifty day simple moving average of $0.45 and a two-hundred day simple moving average of $0.53. The firm has a market capitalization of $90.50 million, a P/E ratio of -1.64 and a beta of 2.64.
Institutional Trading of Ocean Power Technologies
A number of institutional investors have recently modified their holdings of OPTT. Geode Capital Management LLC grew its stake in Ocean Power Technologies by 35.3% in the 4th quarter. Geode Capital Management LLC now owns 1,012,955 shares of the energy company's stock valued at $1,033,000 after buying an additional 264,382 shares in the last quarter. Sargent Investment Group LLC grew its position in shares of 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 in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Ocean Power Technologies during the 4th quarter valued at $291,000. Virtu Financial LLC lifted its holdings 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 purchasing an additional 40,772 shares in the last quarter. Finally, Arkadios Wealth Advisors purchased a new stake in Ocean Power Technologies during the 4th quarter worth about $102,000. 11.93% of the stock is currently owned by hedge funds and other institutional investors.
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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