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

Stock analysts at StockNews.com began coverage on shares of Odyssey Marine Exploration (NASDAQ:OMEX) in a research report issued on Monday. The firm set a “sell” rating on the business services provider’s stock.

Odyssey Marine Exploration Stock Performance

Shares of OMEX stock opened at $0.48 on Monday. The company has a 50 day moving average of $0.55 and a 200-day moving average of $1.25. Odyssey Marine Exploration has a 12-month low of $0.30 and a 12-month high of $5.57.

Insiders Place Their Bets

In related news, Director Mark B. Justh acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were bought at an average cost of $0.64 per share, for a total transaction of $32,000.00. Following the purchase, the director now owns 551,124 shares in the company, valued at $352,719.36. This trade represents a 9.98 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Odyssey Marine Exploration

Hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in Odyssey Marine Exploration during the third quarter valued at approximately $32,000. Voisard Asset Management Group Inc. boosted its holdings in shares of Odyssey Marine Exploration by 800.0% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 36,000 shares of the business services provider’s stock worth $30,000 after purchasing an additional 32,000 shares in the last quarter. Two Sigma Investments LP purchased a new position in shares of Odyssey Marine Exploration during the fourth quarter worth approximately $25,000. Two Seas Capital LP lifted its stake in Odyssey Marine Exploration by 2,449.0% in the fourth quarter. Two Seas Capital LP now owns 2,549,049 shares of the business services provider’s stock worth $1,835,000 after purchasing an additional 2,449,049 shares during the last quarter. Finally, XTX Topco Ltd grew its position in Odyssey Marine Exploration by 225.5% during the 4th quarter. XTX Topco Ltd now owns 41,778 shares of the business services provider’s stock worth $30,000 after acquiring an additional 28,943 shares during the last quarter. 49.96% of the stock is currently owned by institutional investors.

About Odyssey Marine Exploration

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.