Traders Purchase Large Volume of Call Options on Ocean Power Technologies (NASDAQ:OPTT)

Ocean Power Technologies, Inc. (NASDAQ:OPTT) saw unusually large options trading activity on Thursday. Stock investors purchased 5,605 call options on the stock. This represents an increase of 120% compared to the average volume of 2,545 call options.

Ocean Power Technologies Trading Up 25.4 %

Shares of NASDAQ:OPTT traded up $0.08 during trading on Thursday, reaching $0.41. The stock had a trading volume of 52,028,998 shares, compared to its average volume of 14,762,363. The firm’s 50-day simple moving average is $0.24 and its 200 day simple moving average is $0.23. The company has a market capitalization of $60.20 million, a P/E ratio of -1.03 and a beta of 2.85. Ocean Power Technologies has a one year low of $0.12 and a one year high of $0.82.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Ocean Power Technologies stock. Sargent Investment Group LLC bought a new stake in shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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 at the end of the most recent reporting period. Institutional investors 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.