Ocean Power Technologies Sees Unusually High Options Volume (NASDAQ:OPTT)

Ocean Power Technologies, Inc. (NASDAQ:OPTT) was the target of some unusual options trading activity on Thursday. Investors acquired 5,605 call options on the stock. This represents an increase of 120% compared to the average daily volume of 2,545 call options.

Institutional Trading of Ocean Power Technologies

A hedge fund recently bought a new stake in Ocean Power Technologies stock. Sargent Investment Group LLC purchased a new stake in shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC). Institutional investors own 11.93% of the company’s stock.

Ocean Power Technologies Stock Performance

Shares of Ocean Power Technologies stock opened at $0.45 on Friday. The firm has a market cap of $66.17 million, a PE ratio of -1.13 and a beta of 2.85. Ocean Power Technologies has a 1 year low of $0.12 and a 1 year high of $0.82. The firm’s 50-day simple moving average is $0.25 and its 200-day simple moving average is $0.23.

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.