Ocean Power Technologies (NASDAQ:OPTT) Stock Price Down 6.5%

Ocean Power Technologies, Inc. (NASDAQ:OPTT)’s stock price traded down 6.5% on Tuesday . The company traded as low as $3.21 and last traded at $3.88. 6,636,443 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 14,281,639 shares. The stock had previously closed at $4.15.

The company has a market capitalization of $119.50 million, a price-to-earnings ratio of -3.66 and a beta of 3.24. The stock has a 50 day moving average price of $4.18 and a two-hundred day moving average price of $2.41.

Ocean Power Technologies (NASDAQ:OPTT) last announced its earnings results on Monday, December 7th. The energy company reported ($0.15) earnings per share for the quarter. Ocean Power Technologies had a negative net margin of 674.79% and a negative return on equity of 95.81%. The business had revenue of $0.12 million during the quarter.

Several large investors have recently made changes to their positions in OPTT. IFP Advisors Inc acquired a new stake in Ocean Power Technologies in the fourth quarter worth about $27,000. Telemus Capital LLC acquired a new stake in Ocean Power Technologies in the fourth quarter worth about $27,000. Cim LLC acquired a new stake in Ocean Power Technologies in the third quarter worth about $30,000. Bank of New York Mellon Corp acquired a new stake in Ocean Power Technologies in the fourth quarter worth about $79,000. Finally, Jane Street Group LLC acquired a new stake in Ocean Power Technologies in the fourth quarter worth about $92,000. Institutional investors own 0.73% of the company’s stock.

Ocean Power Technologies Company Profile (NASDAQ:OPTT)

Ocean Power Technologies, Inc develops and commercializes proprietary systems that generate electricity by harnessing the renewable energy of ocean waves in North and South America, Europe, and Asia. It offers PB3 PowerBuoy system that generates power for use independent of the power grid in remote offshore locations.

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