Ocean Power Technologies (NASDAQ:OPTT) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.31 and traded as high as $0.95. Ocean Power Technologies shares last traded at $0.86, with a volume of 25,859,598 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Ocean Power Technologies in a research report on Tuesday, December 31st. They set a “sell” rating on the stock.

Ocean Power Technologies Stock Down 3.2 %

The stock has a fifty day moving average of $0.48 and a 200-day moving average of $0.31. The stock has a market cap of $125.36 million, a PE ratio of -2.15 and a beta of 2.63.

Institutional Investors Weigh In On Ocean Power Technologies

An institutional investor recently bought a new position in Ocean Power Technologies stock. Arkadios Wealth Advisors acquired a new stake in Ocean Power Technologies, Inc. (NASDAQ:OPTT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 100,000 shares of the energy company’s stock, valued at approximately $102,000. Arkadios Wealth Advisors owned approximately 0.07% of Ocean Power Technologies at the end of the most recent quarter. Institutional investors and hedge funds 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.