Virtu Financial LLC Purchases 40,772 Shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT)

Virtu Financial LLC boosted its holdings in shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT) by 57.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 111,182 shares of the energy company’s stock after buying an additional 40,772 shares during the period. Virtu Financial LLC owned approximately 0.08% of Ocean Power Technologies worth $113,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sargent Investment Group LLC boosted its position in shares of Ocean Power Technologies by 164.0% during 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 during the last quarter. SBI Securities Co. Ltd. bought a new stake in Ocean Power Technologies during the fourth quarter valued at approximately $291,000. Arkadios Wealth Advisors bought a new position in shares of Ocean Power Technologies in the 4th quarter worth $102,000. Finally, Penbrook Management LLC purchased a new stake in shares of Ocean Power Technologies during the 4th quarter valued at $32,000. 11.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Ocean Power Technologies Trading Down 1.9 %

Shares of Ocean Power Technologies stock opened at $0.47 on Monday. The business’s 50-day moving average price is $0.65 and its 200-day moving average price is $0.46. The firm has a market capitalization of $80.62 million, a PE ratio of -1.46 and a beta of 2.57. Ocean Power Technologies, Inc. has a 12 month low of $0.12 and a 12 month high of $1.75.

Ocean Power Technologies 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.