Ocean Power Technologies, Inc. (NASDAQ:OPTT - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.56 and traded as high as $0.59. Ocean Power Technologies shares last traded at $0.55, with a volume of 5,816,679 shares changing hands.
Analysts Set New Price Targets
Separately, Wall Street Zen raised Ocean Power Technologies to a "sell" rating in a report on Tuesday, March 4th.
Read Our Latest Research Report on Ocean Power Technologies
Ocean Power Technologies Trading Up 6.0%
The stock has a market cap of $93.46 million, a price-to-earnings ratio of -1.70 and a beta of 2.69. The stock has a fifty day simple moving average of $0.46 and a 200-day simple moving average of $0.57.
Institutional Trading of Ocean Power Technologies
Several institutional investors have recently modified their holdings of OPTT. SBI Securities Co. Ltd. acquired a new stake in shares of Ocean Power Technologies during the 4th quarter worth approximately $291,000. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 264,382 shares in the last quarter. Virtu Financial LLC grew its holdings in shares of 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, LPL Financial LLC bought a new position in shares of Ocean Power Technologies during the 4th quarter worth approximately $26,000. Institutional investors and hedge funds own 11.93% of the company's stock.
Ocean Power Technologies Company Profile
(
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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.
Further Reading
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