Ocean Power Technologies (NASDAQ:OPTT) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Ocean Power Technologies, Inc. (NASDAQ:OPTT) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.43 and traded as high as $0.56. Ocean Power Technologies shares last traded at $0.50, with a volume of 6,075,066 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Ocean Power Technologies to a “sell” rating in a research note on Tuesday, March 4th.

Ocean Power Technologies Price Performance

The stock has a market cap of $73.00 million, a price-to-earnings ratio of -1.56 and a beta of 2.57. The firm’s 50-day moving average is $0.79 and its 200 day moving average is $0.43.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. LPL Financial LLC acquired a new stake in Ocean Power Technologies during the fourth quarter worth about $26,000. Sargent Investment Group LLC purchased a new stake in shares of Ocean Power Technologies during the 3rd quarter worth about $31,000. Penbrook Management LLC acquired a new stake in Ocean Power Technologies during the 4th quarter worth approximately $32,000. Arkadios Wealth Advisors purchased a new position in Ocean Power Technologies in the fourth quarter valued at approximately $102,000. Finally, Virtu Financial LLC raised its holdings in Ocean Power Technologies by 57.9% in the fourth quarter. Virtu Financial LLC now owns 111,182 shares of the energy company’s stock valued at $113,000 after buying an additional 40,772 shares during the period. 11.93% of the stock is owned by hedge funds and other institutional investors.

About Ocean Power Technologies

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.