Stock Traders Buy Large Volume of Ocean Power Technologies Call Options (NASDAQ:OPTT)

Ocean Power Technologies, Inc. (NASDAQ:OPTT) saw unusually large options trading on Wednesday. Traders acquired 7,974 call options on the company. This is an increase of 1,945% compared to the typical volume of 390 call options.

Ocean Power Technologies Price Performance

Shares of Ocean Power Technologies stock opened at $0.37 on Thursday. The stock has a 50-day simple moving average of $0.16 and a 200-day simple moving average of $0.20. Ocean Power Technologies has a 52-week low of $0.12 and a 52-week high of $0.57. The firm has a market cap of $36.10 million, a price-to-earnings ratio of -0.92 and a beta of 2.18.

Ocean Power Technologies (NASDAQ:OPTT) last released its quarterly earnings data on Monday, September 16th. The energy company reported ($0.05) earnings per share (EPS) for the quarter. The business had revenue of $1.30 million during 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 purchased a new stake in Ocean Power Technologies, Inc. (NASDAQ:OPTT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 200,000 shares of the energy company’s stock, valued at approximately $31,000. Sargent Investment Group LLC owned 0.20% of Ocean Power Technologies as of its most recent SEC filing. 11.93% of the stock is currently owned by institutional investors and hedge funds.

Ocean Power Technologies Company Profile

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.