StockNews.com Begins Coverage on Odyssey Marine Exploration (NASDAQ:OMEX)

Equities research analysts at StockNews.com initiated coverage on shares of Odyssey Marine Exploration (NASDAQ:OMEX) in a research note issued to investors on Sunday. The firm set a “sell” rating on the business services provider’s stock.

Odyssey Marine Exploration Stock Performance

NASDAQ OMEX opened at $0.74 on Friday. Odyssey Marine Exploration has a one year low of $0.30 and a one year high of $5.57. The stock’s 50 day simple moving average is $0.47 and its 200 day simple moving average is $2.28.

Insider Transactions at Odyssey Marine Exploration

In other news, Director Mark B. Justh acquired 250,000 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was purchased at an average cost of $0.55 per share, with a total value of $137,500.00. Following the acquisition, the director now owns 501,124 shares of the company’s stock, valued at $275,618.20. This trade represents a 99.55 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Voisard Asset Management Group Inc. boosted its stake in Odyssey Marine Exploration by 800.0% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 36,000 shares of the business services provider’s stock worth $30,000 after acquiring an additional 32,000 shares during the last quarter. Virtu Financial LLC acquired a new stake in Odyssey Marine Exploration in the third quarter worth $32,000. Cowen AND Company LLC boosted its position in shares of Odyssey Marine Exploration by 20.0% during the second quarter. Cowen AND Company LLC now owns 36,000 shares of the business services provider’s stock worth $176,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Odyssey Marine Exploration during the second quarter worth $372,000. 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.