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Why Ocean Power, MGT Capital and 3 Other Stocks Are Making Moves Today

A record-breaking week is set to conclude on a positive note, as the markets edge higher on Friday after a strong retail data report out of the U.S. Investors are closely watching Ocean Power Technologies Inc (NASDAQ:OPTT), MGT Capital Investments Inc. (NYSEMKT:MGT), Stereotaxis Inc (NASDAQ:STXS), Brainstorm Cell Therapeutics Inc (NASDAQ:BCLI), and Great Basin Scientific Inc (NASDAQ:GBSN) today. Let’s find out why these stocks are of importance to investors today and see what the elite funds in our database think about them.

Our research, which determined that following the small-cap stocks that hedge funds are collectively bullish on can help a smaller investor beat the S&P 500 by around 95 basis points per month (see more details here).

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Ocean Power Deploys Commercial PB3 PowerBuoy

Ocean Power Technologies Inc (NASDAQ:OPTT)’s stock has skyrocketed by 49.02% today after the company announced the deployment of its first commercial design of the PB3 PowerBuoy, at about four miles off the coast of New Jersey. PB3 has a redesigned power take-off feature, a modular energy storage system, power management and distribution system, and a new auto-ballasting system. In a statement, Ocean Power’s CEO George Kirby said that the PB3 represents the “final validation” to its prior versions. Mr. Kirby added that the PB3 PowerBuoy commercial project will give a competitive advantage to the company in areas such as ocean observing, oil and gas, security and defense, and communications. Just two hedge funds in our database were long Ocean Power Technologies Inc (NASDAQ:OPTT) at the end of the first quarter of 2016.

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MGT Capital Acquires New Security System

MGT Capital Investments Inc. (NYSEMKT:MGT) shares have moved up by more than 9% today after the company announced the acquisition of a new intrusion monitoring system, Sentinel MGT, designed to protect corporate and enterprise intranets from advanced and sophisticated hacking threats. The Harrison, New York-based company also revealed its plans for a product based on the same technology scheduled, to be launched in November. The tool’s underlying technology was bought from Cyberdonix, Inc. for 150,000 restricted shares of MGT stock. No funds in our database owned MGT Capital shares at the end of the first quarter.

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Find out why investors are interested in Brainstorm Cell Therapeutics, Stereotaxis, and Great Basin Scientific today on the next page.