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

Ocean Power Technologies, Inc. (NASDAQ:OPTT) was the recipient of unusually large options trading on Wednesday. Stock investors bought 7,974 call options on the company. This is an increase of 1,945% compared to the average volume of 390 call options.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Ocean Power Technologies stock. Sargent Investment Group LLC purchased a new stake in shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 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 as of its most recent SEC filing. Institutional investors and hedge funds own 11.93% of the company’s stock.

Ocean Power Technologies Stock Performance

Shares of Ocean Power Technologies stock traded up $0.08 during midday trading on Wednesday, hitting $0.37. The company had a trading volume of 211,768,281 shares, compared to its average volume of 11,983,177. Ocean Power Technologies has a 52-week low of $0.12 and a 52-week high of $0.57. The stock has a market capitalization of $36.10 million, a P/E ratio of -0.93 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 (NASDAQ:OPTT) last released its earnings results on Monday, September 16th. The energy company reported ($0.05) EPS for the quarter. The company had revenue of $1.30 million during the quarter. Ocean Power Technologies had a negative return on equity of 101.04% and a negative net margin of 448.27%.

Ocean Power Technologies Company Profile

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.