Odyssey Marine Exploration (NASDAQ:OMEX) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.65 and traded as high as $2.18. Odyssey Marine Exploration shares last traded at $2.04, with a volume of 1,517,173 shares trading hands.

Analyst Upgrades and Downgrades

OMEX has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Odyssey Marine Exploration in a research note on Wednesday, October 8th. Wall Street Zen lowered Odyssey Marine Exploration from a “hold” rating to a “sell” rating in a report on Sunday, August 10th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Odyssey Marine Exploration Trading Down 7.3%

The company has a market cap of $92.19 million, a PE ratio of -6.00 and a beta of -0.85. The firm’s 50-day simple moving average is $2.30 and its two-hundred day simple moving average is $1.65.

Odyssey Marine Exploration (NASDAQ:OMEX) last released its earnings results on Tuesday, August 19th. The business services provider reported ($0.48) EPS for the quarter. The firm had revenue of $0.14 million for the quarter. Odyssey Marine Exploration had a negative return on equity of 14.85% and a net margin of 174.35%.

Insider Activity at Odyssey Marine Exploration

In other news, COO John D. Longley, Jr. sold 217,072 shares of the company’s stock in a transaction on 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 directly owned 150,313 shares of the company’s stock, valued at $559,164.36. This represents a 59.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OMEX. Voisard Asset Management Group Inc. boosted its holdings in Odyssey Marine Exploration by 59.1% in the second quarter. Voisard Asset Management Group Inc. now owns 35,000 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 13,000 shares during the last quarter. Foundations Investment Advisors LLC acquired a new position in shares of Odyssey Marine Exploration in the 3rd quarter valued at about $542,000. SLT Holdings LLC purchased a new stake in shares of Odyssey Marine Exploration in the third quarter worth about $542,000. Finally, Old West Investment Management LLC purchased a new stake in shares of Odyssey Marine Exploration in the third quarter worth about $7,170,000. 49.96% of the stock is currently owned by institutional investors and hedge funds.

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.