Ocean Power Technologies (NASDAQ:OPTT) Upgraded at StockNews.com

Ocean Power Technologies (NASDAQ:OPTT) was upgraded by research analysts at StockNews.com to a “sell” rating in a research note issued to investors on Friday.

Ocean Power Technologies Stock Performance

Shares of NASDAQ:OPTT opened at $0.66 on Friday. Ocean Power Technologies has a 52-week low of $0.12 and a 52-week high of $1.75. The company has a market capitalization of $95.79 million, a PE ratio of -2.05 and a beta of 2.63. The company has a fifty day moving average of $0.65 and a 200-day moving average of $0.35.

Hedge Funds Weigh In On Ocean Power Technologies

Several large investors have recently bought and sold shares of the company. Penbrook Management LLC bought a new stake in shares of Ocean Power Technologies during the fourth quarter worth about $32,000. Arkadios Wealth Advisors bought a new position in Ocean Power Technologies in the 4th quarter valued at approximately $102,000. Finally, Sargent Investment Group LLC acquired a new stake in Ocean Power Technologies during the 3rd quarter worth approximately $31,000. 11.93% of the stock is currently owned by institutional investors.

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.