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

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.99 and traded as high as $2.20. Odyssey Marine Exploration shares last traded at $2.12, with a volume of 840,474 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Odyssey Marine Exploration in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Odyssey Marine Exploration presently has an average rating of “Sell”.

Odyssey Marine Exploration Stock Performance

The firm has a 50 day moving average of $2.08 and a two-hundred day moving average of $1.99. The stock has a market cap of $118.17 million, a P/E ratio of -2.72 and a beta of -0.86.

Odyssey Marine Exploration (NASDAQ:OMEX) last released its 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.

Hedge Funds Weigh In On Odyssey Marine Exploration

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Voisard Asset Management Group Inc. raised its holdings in Odyssey Marine Exploration by 20.9% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 42,300 shares of the business services provider’s stock valued at $82,000 after acquiring an additional 7,300 shares in the last quarter. SLT Holdings LLC bought a new position in shares of Odyssey Marine Exploration during the 3rd quarter worth about $542,000. Foundations Investment Advisors LLC bought a new position in shares of Odyssey Marine Exploration during the 3rd quarter worth about $542,000. Old West Investment Management LLC acquired a new stake in shares of Odyssey Marine Exploration during the 3rd quarter valued at about $7,170,000. Finally, Jefferies Financial Group Inc. bought a new stake in Odyssey Marine Exploration in the third quarter valued at about $780,000. 49.96% of the stock is currently owned by institutional investors.

Odyssey Marine Exploration Company Profile

Odyssey Marine Exploration, Inc (NASDAQ: OMEX) is a marine technology and deep-ocean exploration company specializing in the location, recovery, and preservation of underwater cultural heritage. The company employs advanced remotely operated vehicles (ROVs) and proprietary seabed mapping systems to carry out high-precision surveys and recovery operations at depths exceeding 6,000 meters. Odyssey Marine’s mission centers on responsible stewardship of historic shipwrecks, valuable cargoes, and other submerged assets, combining maritime archaeology with commercially oriented salvage projects.

In addition to treasure recovery, Odyssey Marine offers a range of subsea services to support government, commercial, and scientific clients worldwide.