Ocean Power Technologies Target of Unusually High Options Trading (NASDAQ:OPTT)

Key Points

• Ocean Power Technologies, Inc. (NASDAQ:OPTT) experienced an unusual options trading day with 3,316 call options acquired, marking a 57% increase over its typical volume of 2,115 call options.
• The company's stock price declined by 13.9% on Friday, closing at $0.65, with a recent trading volume of 6,364,660 shares.
• Institutional investors have significantly increased their holdings in Ocean Power Technologies, with notable increases from firms like Virtu Financial LLC and Baader Bank Aktiengesellschaft.
• Ocean Power Technologies develops systems to generate electricity from ocean waves, offering products like the PB3 PowerBuoy for use in remote offshore locations.

Ocean Power Technologies, Inc. (NASDAQ:OPTT - Get Free Report) saw some unusual options trading activity on Friday. Stock traders purchased 3,316 call options on the company. This represents an increase of 57% compared to the typical daily volume of 2,115 call options.

Ocean Power Technologies Trading Down 1.0%

Shares of NASDAQ:OPTT traded down $0.01 during mid-day trading on Tuesday, reaching $0.57. The stock had a trading volume of 5,305,605 shares, compared to its average volume of 8,697,163. The firm has a market cap of $98.24 million, a PE ratio of -1.78 and a beta of 2.62. The firm has a 50 day simple moving average of $0.56 and a two-hundred day simple moving average of $0.57. Ocean Power Technologies has a twelve month low of $0.14 and a twelve month high of $1.75.

Institutional Trading of Ocean Power Technologies

A number of large investors have recently bought and sold shares of the business. Baader Bank Aktiengesellschaft increased its stake in Ocean Power Technologies by 349.2% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 100,000 shares of the energy company's stock worth $47,000 after purchasing an additional 77,738 shares in the last quarter. Geode Capital Management LLC increased 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 worth $1,033,000 after purchasing an additional 264,382 shares in the last quarter. LPL Financial LLC bought a new stake in Ocean Power Technologies during the 4th quarter worth approximately $26,000. Finally, Virtu Financial LLC increased its stake 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. 11.93% of the stock is owned by institutional investors.

About Ocean Power Technologies

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.