Penbrook Management LLC Invests $32,000 in Ocean Power Technologies, Inc. (NASDAQ:OPTT)

Penbrook Management LLC purchased a new stake in shares of Ocean Power Technologies, Inc. (NASDAQ:OPTT) during the 4th quarter, Holdings Channel reports. The fund purchased 31,500 shares of the energy company’s stock, valued at approximately $32,000.

Separately, Arkadios Wealth Advisors bought a new stake in Ocean Power Technologies during the 4th quarter worth about $102,000. Institutional investors and hedge funds own 11.93% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Ocean Power Technologies in a research note on Tuesday, December 31st. They issued a “sell” rating on the stock.

Ocean Power Technologies Stock Down 3.4 %

OPTT opened at $0.67 on Thursday. The company has a fifty day moving average price of $0.63 and a two-hundred day moving average price of $0.35. Ocean Power Technologies, Inc. has a 52 week low of $0.12 and a 52 week high of $1.75.

Ocean Power Technologies 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.