Ocean Power Technologies, Inc. (NASDAQ:OPTT) Director Terence James Cryan Acquires 100,000 Shares

Posted by Doug Madison on Nov 17th, 2024

Ocean Power Technologies, Inc. (NASDAQ:OPTT – Get Free Report) Director Terence James Cryan acquired 100,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were acquired at an average price of $0.15 per share, with a total value of $15,000.00. Following the completion of the purchase, the director now owns 358,658 shares in the company, valued at approximately $53,798.70. This trade represents a 38.66 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Ocean Power Technologies Stock Performance

NASDAQ OPTT opened at $0.14 on Friday. Ocean Power Technologies, Inc. has a 1 year low of $0.12 and a 1 year high of $0.57. The company has a fifty day moving average of $0.16 and a 200 day moving average of $0.20.

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

Institutional Investors Weigh In On Ocean Power Technologies

A hedge fund recently bought a new stake in Ocean Power Technologies stock. Sargent Investment Group LLC bought a new stake in shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 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. Hedge funds and other institutional investors own 11.93% of the company’s stock.

About Ocean Power Technologies

(Get Free Report)

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.