Sargent Investment Group LLC Buys New Holdings in Ocean Power Technologies, Inc. (NASDAQ:OPTT)

Sargent Investment Group LLC purchased a new position in Ocean Power Technologies, Inc. (NASDAQ:OPTT) during the third quarter, HoldingsChannel reports. The fund purchased 200,000 shares of the energy company’s stock, valued at approximately $31,000.

Ocean Power Technologies Stock Performance

Shares of NASDAQ OPTT opened at $0.14 on Friday. Ocean Power Technologies, Inc. has a 52-week low of $0.12 and a 52-week high of $0.57. The firm’s fifty day moving average is $0.16 and its two-hundred day moving average is $0.20.

Ocean Power Technologies (NASDAQ:OPTT) last issued its earnings results on Monday, September 16th. The energy company reported ($0.05) earnings per share (EPS) for the quarter. The firm had revenue of $1.30 million during the quarter. Ocean Power Technologies had a negative return on equity of 101.04% and a negative net margin of 448.27%.

Ocean Power Technologies 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.