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

Ocean Power Technologies, Inc. (NASDAQ:OPTT) Director Terence James Cryan acquired 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average price of $0.15 per share, for a total transaction of $15,000.00. Following the purchase, the director now owns 358,658 shares of the company’s stock, valued at $53,798.70. The trade was a 38.66 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Ocean Power Technologies Price Performance

NASDAQ:OPTT opened at $0.14 on Friday. The company has a market capitalization of $13.71 million, a P/E ratio of -0.35 and a beta of 2.18. The business has a fifty day simple moving average of $0.16 and a two-hundred day simple moving average of $0.20. Ocean Power Technologies, Inc. has a 1 year low of $0.12 and a 1 year high of $0.57.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Ocean Power Technologies stock. Sargent Investment Group LLC bought a new position in shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & 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 approximately 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.