Ocean Power Technologies (NASDAQ:OPTT) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Ocean Power Technologies, Inc. (NASDAQ:OPTT) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.41 and traded as high as $0.61. Ocean Power Technologies shares last traded at $0.60, with a volume of 2,802,687 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Ocean Power Technologies to a “sell” rating in a research note on Friday, January 31st.

Ocean Power Technologies Stock Performance

The company has a market cap of $87.36 million, a P/E ratio of -1.87 and a beta of 2.58. The stock has a 50-day moving average of $0.80 and a two-hundred day moving average of $0.42.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC purchased a new stake in Ocean Power Technologies during the 4th quarter valued at $26,000. Penbrook Management LLC purchased a new stake in Ocean Power Technologies during the 4th quarter valued at $32,000. Virtu Financial LLC boosted its stake in Ocean Power Technologies by 57.9% during the 4th quarter. Virtu Financial LLC now owns 111,182 shares of the energy company’s stock valued at $113,000 after purchasing an additional 40,772 shares during the last quarter. Arkadios Wealth Advisors purchased a new stake in Ocean Power Technologies during the 4th quarter valued at $102,000. Finally, Sargent Investment Group LLC purchased a new position in shares of Ocean Power Technologies in the 3rd quarter worth $31,000. Institutional investors 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.