Terence James Cryan Purchases 100,000 Shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT) Stock

Ocean Power Technologies, Inc. (NASDAQ:OPTT) Director Terence James Cryan bought 100,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were purchased at an average price of $0.15 per share, for a total transaction of $15,000.00. Following the purchase, the director now owns 358,658 shares in the company, valued at $53,798.70. This trade represents a 38.66 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Ocean Power Technologies Price Performance

Shares of OPTT stock opened at $0.14 on Friday. Ocean Power Technologies, Inc. has a one year low of $0.12 and a one year high of $0.57. The company’s fifty day moving average price is $0.16 and its 200-day moving average price is $0.20. The company has a market capitalization of $13.91 million, a price-to-earnings ratio of -0.35 and a beta of 2.18.

Ocean Power Technologies (NASDAQ:OPTT) last posted its quarterly earnings results on Monday, September 16th. The energy company reported ($0.05) EPS for the quarter. The business had revenue of $1.30 million for the quarter. Ocean Power Technologies had a negative net margin of 448.27% and a negative return on equity of 101.04%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Ocean Power Technologies stock. Sargent Investment Group LLC acquired a new stake in shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 200,000 shares of the energy company’s stock, valued at approximately $31,000. Sargent Investment Group LLC owned about 0.20% of Ocean Power Technologies as of its most recent SEC filing. 11.93% of the stock is owned by institutional investors and hedge funds.

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.