Ocean Power Technologies Sees Unusually High Options Volume (NASDAQ:OPTT)

Ocean Power Technologies, Inc. (NASDAQ:OPTT) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 7,974 call options on the stock. This is an increase of 1,945% compared to the average volume of 390 call options.

Institutional Investors Weigh In On 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 Ocean Power Technologies, Inc. (NASDAQ:OPTT) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 200,000 shares of the energy company’s stock, valued at approximately $31,000. Sargent Investment Group LLC owned approximately 0.20% of Ocean Power Technologies at the end of the most recent reporting period. 11.93% of the stock is owned by institutional investors.

Ocean Power Technologies Stock Up 26.3 %

OPTT traded up $0.08 during trading on Wednesday, hitting $0.37. The company’s stock had a trading volume of 211,768,281 shares, compared to its average volume of 11,983,177. Ocean Power Technologies has a one year low of $0.12 and a one year high of $0.57. The business’s 50 day simple moving average is $0.16 and its 200-day simple moving average is $0.20. The firm has a market cap of $36.10 million, a PE ratio of -0.93 and a beta of 2.18.

Ocean Power Technologies (NASDAQ:OPTT) last issued its quarterly earnings results on Monday, September 16th. The energy company reported ($0.05) EPS for the quarter. Ocean Power Technologies had a negative return on equity of 101.04% and a negative net margin of 448.27%. The company had revenue of $1.30 million during the quarter.

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.