Ocean Power Technologies (NASDAQ:OPTT) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Ocean Power Technologies, Inc. (NASDAQ:OPTT)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.45 and traded as high as $0.54. Ocean Power Technologies shares last traded at $0.53, with a volume of 6,430,841 shares.

Analyst Ratings Changes

Separately, StockNews.com upgraded Ocean Power Technologies to a “sell” rating in a research report on Tuesday, March 4th.

Ocean Power Technologies Trading Up 12.0 %

The company has a market cap of $90.20 million, a price-to-earnings ratio of -1.66 and a beta of 2.57. The stock’s 50-day moving average is $0.69 and its 200-day moving average is $0.45.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arkadios Wealth Advisors bought a new stake in Ocean Power Technologies during the 4th quarter valued at $102,000. SBI Securities Co. Ltd. bought a new stake in shares of Ocean Power Technologies during the fourth quarter worth about $291,000. Penbrook Management LLC acquired a new stake in shares of Ocean Power Technologies in the 4th quarter worth about $32,000. Sargent Investment Group LLC lifted its position in Ocean Power Technologies by 164.0% in the 4th quarter. Sargent Investment Group LLC now owns 528,000 shares of the energy company’s stock valued at $539,000 after acquiring an additional 328,000 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Ocean Power Technologies by 35.3% during the 4th quarter. Geode Capital Management LLC now owns 1,012,955 shares of the energy company’s stock worth $1,033,000 after purchasing an additional 264,382 shares in the last quarter. Institutional investors own 11.93% of the company’s stock.

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.