Ocean Power Technologies, Inc. (NASDAQ:OPTT – Get Free Report) saw an uptick in trading volume on Friday . Approximately 233,769 shares were traded during mid-day trading, a decline of 18% from the previous session’s volume of 284,565 shares.The stock last traded at $2.07 and had previously closed at $1.93.
Analyst Ratings Changes
Separately, HC Wainwright reiterated a “buy” rating on shares of Ocean Power Technologies in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Ocean Power Technologies presently has a consensus rating of “Buy” and a consensus price target of $45.00.
Read Our Latest Stock Analysis on OPTT
Ocean Power Technologies Stock Performance
Institutional Inflows and Outflows
An institutional investor recently raised its stake in Ocean Power Technologies stock. Royal Bank of Canada boosted its holdings in shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT – Free Report) by 1,383,331.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 705,550 shares of the energy company’s stock after acquiring an additional 705,499 shares during the quarter. Royal Bank of Canada owned about 0.31% of Ocean Power Technologies worth $247,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 11.93% of the company’s stock.
Ocean Power Technologies Company Profile
Ocean Power Technologies, Inc develops ocean-based renewable energy and autonomous maritime technology. The company’s systems are designed to provide persistent power and communications for offshore applications, including maritime security, ocean observation, defense, offshore energy and environmental monitoring.
Its primary product is the PB3 PowerBuoy, a wave-powered platform that generates electricity from ocean-wave motion and can support onboard sensors, communications equipment and other payloads.
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