Ocean Power Technologies (NASDAQ:OPTT – Get Free Report) was upgraded by investment analysts at StockNews.com to a “sell” rating in a report issued on Tuesday.
Ocean Power Technologies Trading Down 4.6 %
OPTT stock traded down $0.02 during midday trading on Tuesday, hitting $0.51. The stock had a trading volume of 7,103,938 shares, compared to its average volume of 19,900,847. The business has a fifty day moving average price of $0.81 and a two-hundred day moving average price of $0.42. Ocean Power Technologies has a 1-year low of $0.12 and a 1-year high of $1.75. The firm has a market cap of $74.73 million, a P/E ratio of -1.60 and a beta of 2.58.
Institutional Trading of Ocean Power Technologies
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LPL Financial LLC purchased a new position in shares of Ocean Power Technologies during the fourth quarter valued at approximately $26,000. Penbrook Management LLC bought a new stake in shares of Ocean Power Technologies in the 4th quarter worth $32,000. Arkadios Wealth Advisors purchased a new stake in shares of Ocean Power Technologies in the fourth quarter valued at about $102,000. Virtu Financial LLC grew its position in Ocean Power Technologies by 57.9% in 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, Sargent Investment Group LLC purchased a new stake in Ocean Power Technologies in the 3rd quarter valued at about $31,000. 11.93% of the stock is owned by institutional investors.
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.
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