Odyssey Marine Exploration (NASDAQ:OMEX) Stock Passes Above 200-Day Moving Average – Should You Sell?

Shares of Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.70 and traded as high as $1.94. Odyssey Marine Exploration shares last traded at $1.93, with a volume of 1,067,514 shares.

Wall Street Analysts Forecast Growth

OMEX has been the subject of a number of recent analyst reports. Wall Street Zen cut Odyssey Marine Exploration from a “hold” rating to a “sell” rating in a research report on Sunday, August 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Odyssey Marine Exploration in a report on Monday. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Odyssey Marine Exploration Price Performance

The stock has a market cap of $114.54 million, a P/E ratio of -2.63 and a beta of -0.85. The stock’s 50 day simple moving average is $2.34 and its two-hundred day simple moving average is $1.71.

Odyssey Marine Exploration (NASDAQ:OMEX) last issued its quarterly earnings results on Wednesday, November 12th. The business services provider reported ($0.31) EPS for the quarter. The company had revenue of $0.06 million for the quarter. Odyssey Marine Exploration had a net margin of 174.35% and a negative return on equity of 14.85%.

Insider Buying and Selling

In related news, COO John D. Longley, Jr. sold 217,072 shares of the company’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $3.72, for a total value of $807,507.84. Following the sale, the chief operating officer owned 150,313 shares in the company, valued at $559,164.36. This represents a 59.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Odyssey Marine Exploration

A number of institutional investors and hedge funds have recently modified their holdings of OMEX. Bank of America Corp DE raised its stake in Odyssey Marine Exploration by 632.8% in the third quarter. Bank of America Corp DE now owns 19,111 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 16,503 shares in the last quarter. Voisard Asset Management Group Inc. raised its position in shares of Odyssey Marine Exploration by 59.1% during the 2nd quarter. Voisard Asset Management Group Inc. now owns 35,000 shares of the business services provider’s stock valued at $41,000 after buying an additional 13,000 shares in the last quarter. Centiva Capital LP purchased a new stake in shares of Odyssey Marine Exploration during the 3rd quarter valued at $57,000. Two Sigma Investments LP lifted its holdings in shares of Odyssey Marine Exploration by 127.8% during the 3rd quarter. Two Sigma Investments LP now owns 84,029 shares of the business services provider’s stock worth $164,000 after acquiring an additional 47,145 shares during the last quarter. Finally, Foundations Investment Advisors LLC purchased a new position in Odyssey Marine Exploration in the third quarter worth $542,000. 49.96% of the stock is owned by hedge funds and other 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.