Ocean Power Technologies (NASDAQ:OPTT) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Ocean Power Technologies, Inc. (NASDAQ:OPTT) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.45 and traded as high as $0.54. Ocean Power Technologies shares last traded at $0.53, with a volume of 6,430,841 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Ocean Power Technologies to a “sell” rating in a research report on Tuesday, March 4th.

Ocean Power Technologies Stock Performance

The stock has a market cap of $90.20 million, a PE ratio of -1.66 and a beta of 2.57. The business has a 50 day moving average price of $0.69 and a two-hundred day moving average price of $0.45.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. LPL Financial LLC purchased a new stake in Ocean Power Technologies in the fourth quarter worth $26,000. Penbrook Management LLC purchased a new stake in Ocean Power Technologies in the 4th quarter worth about $32,000. Arkadios Wealth Advisors bought a new stake in Ocean Power Technologies in the 4th quarter valued at about $102,000. Virtu Financial LLC lifted its holdings 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 purchasing an additional 40,772 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Ocean Power Technologies during the fourth quarter worth about $291,000. Institutional investors own 11.93% of the company’s stock.

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.