Ocean Power Technologies (NASDAQ:OPTT) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.43 and traded as high as $0.56. Ocean Power Technologies shares last traded at $0.50, with a volume of 6,075,066 shares trading hands.

Wall Street Analysts Forecast Growth

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

Ocean Power Technologies Trading Up 2.0 %

The stock has a 50 day moving average price of $0.76 and a two-hundred day moving average price of $0.43. The company has a market cap of $74.48 million, a price-to-earnings ratio of -1.59 and a beta of 2.57.

Institutional Trading of Ocean Power Technologies

Large investors have recently made changes to their positions in the company. LPL Financial LLC bought a new stake in shares of Ocean Power Technologies in the 4th quarter valued at $26,000. Penbrook Management LLC bought a new stake in shares of Ocean Power Technologies in the 4th quarter valued at $32,000. Arkadios Wealth Advisors bought a new stake in shares of Ocean Power Technologies in the 4th quarter valued at $102,000. Virtu Financial LLC increased its position in shares of Ocean Power Technologies by 57.9% in the 4th quarter. Virtu Financial LLC now owns 111,182 shares of the energy company’s stock valued at $113,000 after buying an additional 40,772 shares in the last quarter. Finally, Sargent Investment Group LLC bought a new stake in shares of Ocean Power Technologies in the 3rd quarter valued at $31,000. 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.