Investors Purchase Large Volume of Ocean Power Technologies Call Options (NASDAQ:OPTT)

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

Ocean Power Technologies Stock Up 25.4 %

NASDAQ OPTT traded up $0.08 during trading on Thursday, hitting $0.41. The stock had a trading volume of 52,028,998 shares, compared to its average volume of 14,762,363. The company has a market capitalization of $60.20 million, a PE ratio of -1.03 and a beta of 2.85. The firm has a 50 day moving average price of $0.24 and a 200 day moving average price of $0.23. Ocean Power Technologies has a twelve month low of $0.12 and a twelve month high of $0.82.

Institutional Trading of Ocean Power Technologies

An institutional investor recently bought a new position in Ocean Power Technologies stock. Sargent Investment Group LLC acquired a new position in shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 200,000 shares of the energy company’s stock, valued at approximately $31,000. Sargent Investment Group LLC owned about 0.20% of Ocean Power Technologies at the end of the most recent quarter. 11.93% of the stock is currently owned by 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.