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

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

Institutional Trading of Ocean Power Technologies

A hedge fund recently bought a new stake in Ocean Power Technologies stock. Sargent Investment Group LLC purchased a new position in shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT) in the third quarter, according to 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 approximately 0.20% of Ocean Power Technologies at the end of the most recent reporting period. 11.93% of the stock is owned by hedge funds and other institutional investors.

Ocean Power Technologies Price Performance

Shares of OPTT stock opened at $0.37 on Friday. The business has a 50 day simple moving average of $0.16 and a 200 day simple moving average of $0.20. Ocean Power Technologies has a 12-month low of $0.12 and a 12-month high of $0.57.

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