Insider Buying: Ocean Power Technologies, Inc. (NASDAQ:OPTT) Director Buys $15,000.00 in Stock

Ocean Power Technologies, Inc. (NASDAQ:OPTT) Director Terence James Cryan acquired 100,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were bought at an average price of $0.15 per share, for a total transaction of $15,000.00. Following the purchase, the director now 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Ocean Power Technologies Price Performance

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

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

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 stake in Ocean Power Technologies, Inc. (NASDAQ:OPTT) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 200,000 shares of the energy company’s stock, valued at approximately $31,000. Sargent Investment Group LLC owned 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 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.