Ocean Power Technologies (NASDAQ:OPTT) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.40 and traded as high as $0.71. Ocean Power Technologies shares last traded at $0.68, with a volume of 3,858,890 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Ocean Power Technologies to a “sell” rating in a research note on Friday, January 31st.

Ocean Power Technologies Price Performance

The business has a 50 day moving average of $0.77 and a 200 day moving average of $0.40. The company has a market cap of $94.11 million, a PE ratio of -2.01 and a beta of 2.58.

Institutional Trading of Ocean Power Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OPTT. LPL Financial LLC purchased a new position in Ocean Power Technologies during the fourth quarter valued at $26,000. Penbrook Management LLC purchased a new position in Ocean Power Technologies during the fourth quarter valued at $32,000. Arkadios Wealth Advisors purchased a new position in Ocean Power Technologies during the fourth quarter valued at $102,000. Virtu Financial LLC lifted its position in Ocean Power Technologies by 57.9% during 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. Finally, Sargent Investment Group LLC purchased a new position in Ocean Power Technologies during the third quarter valued at $31,000. Hedge funds and other 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.