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

Ocean Power Technologies, Inc. (NASDAQ:OPTT) Director Terence James Cryan bought 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were acquired at an average price of $0.15 per share, for a total transaction of $15,000.00. Following the completion of the purchase, the director now owns 358,658 shares in the company, valued at $53,798.70. The trade was a 38.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ocean Power Technologies Price Performance

Shares of NASDAQ OPTT opened at $0.14 on Friday. Ocean Power Technologies, Inc. has a fifty-two week low of $0.12 and a fifty-two week high of $0.57. The business has a 50-day simple moving average of $0.16 and a two-hundred day simple moving average of $0.20.

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

Institutional Investors Weigh In On Ocean Power Technologies

An institutional investor recently bought a new position in Ocean Power Technologies stock. Sargent Investment Group LLC bought a new position in Ocean Power Technologies, Inc. (NASDAQ:OPTT) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 200,000 shares of the energy company’s stock, valued at approximately $31,000. Sargent Investment Group LLC owned about 0.20% of Ocean Power Technologies at the end of the most recent reporting period. Institutional investors own 11.93% of the company’s stock.

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.