Ocean Power Technologies (NASDAQ:OPTT) Upgraded to Sell at StockNews.com

StockNews.com upgraded shares of Ocean Power Technologies (NASDAQ:OPTT) to a sell rating in a research note released on Friday morning.

Ocean Power Technologies Trading Up 2.6 %

OPTT opened at $0.66 on Friday. Ocean Power Technologies has a 12 month low of $0.12 and a 12 month high of $1.75. The business’s 50-day moving average price is $0.65 and its 200-day moving average price is $0.35.

Institutional Trading of Ocean Power Technologies

A number of institutional investors have recently made changes to their positions in OPTT. Sargent Investment Group LLC increased its stake 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 buying an additional 328,000 shares during the period. Arkadios Wealth Advisors bought a new stake in Ocean Power Technologies in the 4th quarter worth $102,000. Finally, Penbrook Management LLC purchased a new position in shares of Ocean Power Technologies in the fourth quarter valued at about $32,000. Hedge funds and other 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.