Terence James Cryan Buys 100,000 Shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT) Stock

Ocean Power Technologies, Inc. (NASDAQ:OPTT) Director Terence James Cryan acquired 100,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was acquired at an average price of $0.15 per share, with a total value of $15,000.00. Following the purchase, the director now directly owns 358,658 shares in the company, valued at approximately $53,798.70. This represents a 38.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Ocean Power Technologies Trading Down 1.4 %

NASDAQ OPTT opened at $0.14 on Monday. The company has a market cap of $13.71 million, a price-to-earnings ratio of -0.35 and a beta of 2.18. The company has a 50 day moving average of $0.16 and a 200-day moving average of $0.20. Ocean Power Technologies, Inc. has a 1-year low of $0.12 and a 1-year high of $0.57.

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

Hedge Funds Weigh In On Ocean Power Technologies

An institutional investor recently bought a new position in Ocean Power Technologies stock. Sargent Investment Group LLC purchased a new position in shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 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 quarter. Institutional investors and hedge funds 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.