Ocean Power Technologies (NASDAQ:OPTT) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.38 and traded as high as $0.80. Ocean Power Technologies shares last traded at $0.80, with a volume of 5,562,561 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Ocean Power Technologies to a “sell” rating in a report on Friday, January 31st.

Ocean Power Technologies Trading Up 5.5 %

The business’s fifty day simple moving average is $0.72 and its 200-day simple moving average is $0.38. The firm has a market cap of $116.22 million, a P/E ratio of -2.49 and a beta of 2.58.

Institutional Investors Weigh In On Ocean Power Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in Ocean Power Technologies by 35.3% during the 4th quarter. Geode Capital Management LLC now owns 1,012,955 shares of the energy company’s stock valued at $1,033,000 after acquiring an additional 264,382 shares during the period. LPL Financial LLC bought a new position in shares of Ocean Power Technologies in the fourth quarter worth $26,000. Virtu Financial LLC increased its holdings in shares of Ocean Power Technologies by 57.9% in the fourth 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 during the period. SBI Securities Co. Ltd. bought a new position in shares of Ocean Power Technologies in the fourth quarter worth $291,000. Finally, Sargent Investment Group LLC increased its holdings in shares of Ocean Power Technologies by 164.0% in the fourth quarter. Sargent Investment Group LLC now owns 528,000 shares of the energy company’s stock worth $539,000 after purchasing an additional 328,000 shares during the period. Institutional investors own 11.93% of the company’s stock.

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.