Ocean Power Technologies Sees Unusually High Options Volume (NASDAQ:OPTT)

Ocean Power Technologies, Inc. (NASDAQ:OPTT) was the target of some unusual options trading activity on Thursday. Stock traders bought 5,605 call options on the stock. This is an increase of 120% compared to the average daily volume of 2,545 call options.

Ocean Power Technologies Stock Performance

Shares of NASDAQ:OPTT opened at $0.45 on Friday. The stock has a market capitalization of $66.17 million, a price-to-earnings ratio of -1.13 and a beta of 2.85. The company has a 50 day moving average price of $0.25 and a 200 day moving average price of $0.23. Ocean Power Technologies has a 1-year low of $0.12 and a 1-year high of $0.82.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Ocean Power Technologies stock. Sargent Investment Group LLC bought a new stake in Ocean Power Technologies, Inc. (NASDAQ:OPTT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 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 at the end of the most recent reporting period. 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.