Ocean Power Technologies (NASDAQ:OPTT) issued its quarterly earnings data on Tuesday. The energy company reported ($0.20) EPS for the quarter, Bloomberg Earnings reports. Ocean Power Technologies had a negative return on equity of 125.57% and a negative net margin of 995.22%.
Shares of Ocean Power Technologies (NASDAQ:OPTT) traded down $0.01 during trading hours on Wednesday, hitting $1.13. 576,400 shares of the company’s stock were exchanged, compared to its average volume of 782,508. Ocean Power Technologies has a 1-year low of $1.08 and a 1-year high of $3.67.
An institutional investor recently raised its position in Ocean Power Technologies stock. Vanguard Group Inc. grew its holdings in Ocean Power Technologies, Inc. (NASDAQ:OPTT) by 24.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,573 shares of the energy company’s stock after buying an additional 19,529 shares during the period. Vanguard Group Inc. owned approximately 1.62% of Ocean Power Technologies worth $138,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 2.83% of the company’s stock.
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Ocean Power Technologies, Inc is developing and seeking to commercialize its systems that generate electricity by connecting the renewable energy of ocean waves. The Company’s PowerBuoy systems use technologies that convert the mechanical energy created by the rising and falling of ocean waves into electricity.
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