Ocean Power Technologies Target of Unusually Large Options Trading (NASDAQ:OPTT)

Ocean Power Technologies, Inc. (NASDAQ:OPTT) was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 7,974 call options on the company. This represents an increase of 1,945% compared to the typical volume of 390 call options.

Institutional Investors Weigh In On Ocean Power Technologies

A hedge fund recently bought a new stake in Ocean Power Technologies stock. Sargent Investment Group LLC purchased a new position in Ocean Power Technologies, Inc. (NASDAQ:OPTT) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 200,000 shares of the energy company’s stock, valued at approximately $31,000. Sargent Investment Group LLC owned 0.20% of Ocean Power Technologies as of its most recent SEC filing. Hedge funds and other institutional investors own 11.93% of the company’s stock.

Ocean Power Technologies Price Performance

Ocean Power Technologies stock opened at $0.37 on Friday. Ocean Power Technologies has a one year low of $0.12 and a one year high of $0.57. The company’s fifty day moving average price is $0.16 and its two-hundred day moving average price is $0.20.

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

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.