Ocean Power Technologies (NASDAQ:OPTT) Earns Sell Rating from Analysts at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Ocean Power Technologies (NASDAQ:OPTT) in a research report issued on Tuesday. The brokerage set a “sell” rating on the energy company’s stock.

Ocean Power Technologies Stock Up 15.9 %

Shares of NASDAQ:OPTT traded up $0.14 during trading on Tuesday, reaching $1.02. The stock had a trading volume of 171,270,281 shares, compared to its average volume of 16,945,793. The stock has a market cap of $148.96 million, a P/E ratio of -2.55 and a beta of 2.85. The business has a fifty day moving average price of $0.27 and a 200-day moving average price of $0.24. Ocean Power Technologies has a fifty-two week low of $0.12 and a fifty-two week high of $1.37.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Ocean Power Technologies stock. Sargent Investment Group LLC bought a new stake in Ocean Power Technologies, Inc. (NASDAQ:OPTT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 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.