Hudson Bay Capital Management LP Purchases New Stake in Ocean Power Technologies Inc (OPTT)
Hudson Bay Capital Management LP purchased a new position in shares of Ocean Power Technologies Inc (NASDAQ:OPTT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 100,000 shares of the energy company’s stock, valued at approximately $110,000.
Separately, Vanguard Group Inc. grew its position in shares of Ocean Power Technologies by 24.4% during the second quarter. Vanguard Group Inc. now owns 99,573 shares of the energy company’s stock worth $138,000 after buying an additional 19,529 shares in the last quarter. Hedge funds and other institutional investors own 2.74% of the company’s stock.
Separately, ValuEngine raised shares of Ocean Power Technologies from a “strong sell” rating to a “sell” rating in a report on Friday, February 2nd.
Ocean Power Technologies (NASDAQ:OPTT) last released its quarterly earnings data on Tuesday, December 12th. The energy company reported ($0.20) EPS for the quarter. The business had revenue of $0.09 million during the quarter. Ocean Power Technologies had a negative return on equity of 103.70% and a negative net margin of 1,306.84%.
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Ocean Power Technologies Profile
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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