Ocean Power Technologies, Inc. (NASDAQ:OPTT - Get Free Report)'s share price 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.
Wall Street Analyst Weigh In
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 Analysis on Ocean Power Technologies
Ocean Power Technologies Stock Performance
The firm has a market cap of $93.46 million, a PE ratio of -1.70 and a beta of 2.69. The stock has a 50-day simple moving average of $0.45 and a two-hundred day simple moving average of $0.56.
Institutional Investors Weigh In On Ocean Power Technologies
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake 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 valued at $1,033,000 after buying an additional 264,382 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Ocean Power Technologies during the fourth quarter valued at $291,000. Virtu Financial LLC increased its position in Ocean Power Technologies by 57.9% during the fourth quarter. Virtu Financial LLC now owns 111,182 shares of the energy company's stock valued at $113,000 after acquiring an additional 40,772 shares during the last quarter. Finally, LPL Financial LLC purchased a new position in Ocean Power Technologies in the fourth quarter worth about $26,000. Hedge funds and other institutional investors 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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