SBI Securities Co. Ltd. Invests $291,000 in Ocean Power Technologies, Inc. (NASDAQ:OPTT)

SBI Securities Co. Ltd. acquired a new position in Ocean Power Technologies, Inc. (NASDAQ:OPTT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 284,984 shares of the energy company’s stock, valued at approximately $291,000. SBI Securities Co. Ltd. owned about 0.20% of Ocean Power Technologies at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Sargent Investment Group LLC grew its stake in shares of Ocean Power Technologies by 164.0% in the fourth quarter. Sargent Investment Group LLC now owns 528,000 shares of the energy company’s stock worth $539,000 after acquiring an additional 328,000 shares during the last quarter. Arkadios Wealth Advisors bought a new position in Ocean Power Technologies in the fourth quarter worth $102,000. Finally, Penbrook Management LLC bought a new position in Ocean Power Technologies in the fourth quarter worth $32,000. Institutional investors and hedge funds own 11.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Ocean Power Technologies to a “sell” rating in a research report on Tuesday.

Ocean Power Technologies Price Performance

Shares of OPTT stock opened at $0.55 on Thursday. The stock has a market cap of $80.76 million, a P/E ratio of -1.73 and a beta of 2.58. Ocean Power Technologies, Inc. has a one year low of $0.12 and a one year high of $1.75. The stock has a fifty day moving average price of $0.81 and a 200 day moving average price of $0.42.

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.