Shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT - Get Free Report) 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 traded.
Wall Street Analyst Weigh In
Separately, Wall Street Zen raised shares of Ocean Power Technologies to a "sell" rating in a report on Tuesday, March 4th.
View Our Latest Stock Analysis on Ocean Power Technologies
Ocean Power Technologies Price Performance
The stock's 50-day moving average is $0.45 and its 200 day moving average is $0.54. The stock has a market cap of $89.40 million, a price-to-earnings ratio of -1.62 and a beta of 2.64.
Hedge Funds Weigh In On Ocean Power Technologies
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC acquired a new position in shares of Ocean Power Technologies in the fourth quarter worth $26,000. Penbrook Management LLC acquired a new stake in shares of Ocean Power Technologies during the fourth quarter valued at $32,000. Arkadios Wealth Advisors purchased a new stake in Ocean Power Technologies during the 4th quarter worth about $102,000. Virtu Financial LLC lifted 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 purchasing an additional 40,772 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Ocean Power Technologies during the 4th quarter worth about $291,000. Institutional investors and hedge funds own 11.93% of the company's stock.
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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