Investors Buy Large Volume of Call Options on Ocean Power Technologies (NASDAQ:OPTT)

Ocean Power Technologies, Inc. (NASDAQ:OPTT) was the recipient of unusually large options trading on Wednesday. Stock investors bought 7,974 call options on the company. This represents an increase of 1,945% compared to the average daily volume of 390 call options.

Ocean Power Technologies Trading Up 26.3 %

OPTT opened at $0.37 on Thursday. The business’s 50 day moving average is $0.16 and its 200-day moving average is $0.20. The stock has a market cap of $36.10 million, a PE ratio of -0.92 and a beta of 2.18. Ocean Power Technologies has a twelve month low of $0.12 and a twelve month high of $0.57.

Ocean Power Technologies (NASDAQ:OPTT) last released its 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 return on equity of 101.04% and a negative net margin of 448.27%. The firm had revenue of $1.30 million for the quarter.

Institutional Trading of Ocean Power Technologies

An institutional investor recently bought a new position in Ocean Power Technologies stock. Sargent Investment Group LLC acquired a new stake in Ocean Power Technologies, Inc. (NASDAQ:OPTT) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 200,000 shares of the energy company’s stock, valued at approximately $31,000. Sargent Investment Group LLC owned 0.20% of Ocean Power Technologies as of its most recent filing with the SEC. 11.93% of the stock is 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.