Odyssey Marine Exploration (NASDAQ:OMEX) Earns Sell Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Odyssey Marine Exploration (NASDAQ:OMEX) in a research report released on Sunday. The brokerage issued a sell rating on the business services provider’s stock.

Odyssey Marine Exploration Stock Performance

Shares of OMEX stock opened at $0.69 on Friday. Odyssey Marine Exploration has a twelve month low of $0.30 and a twelve month high of $5.57. The firm has a fifty day simple moving average of $0.47 and a 200-day simple moving average of $2.21.

Insider Activity at Odyssey Marine Exploration

In related news, Director Mark B. Justh purchased 250,000 shares of Odyssey Marine Exploration stock in a transaction dated Tuesday, December 24th. The shares were acquired at an average price of $0.55 per share, with a total value of $137,500.00. Following the completion of the transaction, the director now owns 501,124 shares of the company’s stock, valued at approximately $275,618.20. This trade represents a 99.55 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Odyssey Marine Exploration

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC bought a new position in Odyssey Marine Exploration in the second quarter worth about $372,000. Virtu Financial LLC acquired a new stake in Odyssey Marine Exploration in the third quarter worth approximately $32,000. Voisard Asset Management Group Inc. boosted its stake in Odyssey Marine Exploration by 800.0% during the third quarter. Voisard Asset Management Group Inc. now owns 36,000 shares of the business services provider’s stock valued at $30,000 after buying an additional 32,000 shares in the last quarter. Finally, Cowen AND Company LLC boosted its position in shares of Odyssey Marine Exploration by 20.0% during the 2nd quarter. Cowen AND Company LLC now owns 36,000 shares of the business services provider’s stock valued at $176,000 after purchasing an additional 6,000 shares in the last quarter. 49.96% of the stock is currently owned by institutional investors.

Odyssey Marine Exploration Company Profile

Odyssey Marine Exploration, Inc, together with its subsidiaries, discovers, validates, and develops seafloor mineral resources worldwide. The company provides specialized mineral exploration, project development, and marine services to clients. Odyssey Marine Exploration, Inc was founded in 1994 and is headquartered in Tampa, Florida.