Geode Capital Management LLC Raises Position in Ocean Power Technologies, Inc. (NASDAQ:OPTT)

Geode Capital Management LLC grew its position in shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT) by 35.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,012,955 shares of the energy company’s stock after buying an additional 264,382 shares during the quarter. Geode Capital Management LLC owned 0.69% of Ocean Power Technologies worth $1,033,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LPL Financial LLC bought a new position in Ocean Power Technologies in the 4th quarter valued at approximately $26,000. Penbrook Management LLC purchased a new position in shares of Ocean Power Technologies in the fourth quarter worth $32,000. Arkadios Wealth Advisors bought a new position in shares of Ocean Power Technologies during the fourth quarter valued at $102,000. Virtu Financial LLC boosted its position in shares of Ocean Power Technologies by 57.9% during the fourth quarter. Virtu Financial LLC now owns 111,182 shares of the energy company’s stock valued at $113,000 after buying an additional 40,772 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Ocean Power Technologies during the fourth quarter valued at $291,000. Institutional investors own 11.93% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Ocean Power Technologies to a “sell” rating in a research report on Tuesday, March 4th.

Ocean Power Technologies Stock Up 4.5 %

OPTT opened at $0.43 on Friday. The stock has a market capitalization of $73.31 million, a price-to-earnings ratio of -1.33 and a beta of 2.51. The firm has a 50 day moving average price of $0.46 and a 200-day moving average price of $0.50. Ocean Power Technologies, Inc. has a twelve month low of $0.12 and a twelve month high of $1.75.

Ocean Power Technologies Company Profile

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.