Virtu Financial LLC raised its holdings in Ocean Power Technologies, Inc. (NASDAQ:OPTT – Free Report) by 57.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 111,182 shares of the energy company’s stock after buying an additional 40,772 shares during the quarter. Virtu Financial LLC’s holdings in Ocean Power Technologies were worth $113,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Penbrook Management LLC purchased a new stake in Ocean Power Technologies in the fourth quarter worth $32,000. Arkadios Wealth Advisors bought a new position in Ocean Power Technologies in the 4th quarter worth $102,000. SBI Securities Co. Ltd. purchased a new stake in shares of Ocean Power Technologies in the 4th quarter worth about $291,000. Finally, Sargent Investment Group LLC boosted its stake in shares of Ocean Power Technologies by 164.0% during the 4th quarter. Sargent Investment Group LLC now owns 528,000 shares of the energy company’s stock valued at $539,000 after purchasing an additional 328,000 shares in the last quarter. 11.93% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, StockNews.com upgraded shares of Ocean Power Technologies to a “sell” rating in a report on Tuesday, March 4th.
Ocean Power Technologies Stock Down 1.9 %
OPTT opened at $0.47 on Monday. Ocean Power Technologies, Inc. has a 52 week low of $0.12 and a 52 week high of $1.75. The stock has a market cap of $80.62 million, a PE ratio of -1.46 and a beta of 2.57. The business has a 50 day moving average of $0.65 and a 200-day moving average of $0.46.
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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