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

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

Odyssey Marine Exploration Stock Down 2.2 %

Shares of NASDAQ OMEX opened at $0.39 on Wednesday. Odyssey Marine Exploration has a 1 year low of $0.30 and a 1 year high of $5.57. The firm’s 50-day moving average is $0.54 and its 200-day moving average is $0.96.

Insider Activity

In other news, Director Mark B. Justh purchased 250,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were acquired at an average cost of $0.55 per share, for a total transaction of $137,500.00. Following the transaction, the director now directly owns 501,124 shares of the company’s stock, valued at approximately $275,618.20. The trade was a 99.55 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 7.10% of the company’s stock.

Institutional Trading of Odyssey Marine Exploration

A number of hedge funds have recently modified their holdings of the company. Two Seas Capital LP raised its position in shares of Odyssey Marine Exploration by 2,449.0% in the 4th quarter. Two Seas Capital LP now owns 2,549,049 shares of the business services provider’s stock valued at $1,835,000 after acquiring an additional 2,449,049 shares during the period. Two Sigma Investments LP acquired a new stake in Odyssey Marine Exploration during the 4th quarter worth approximately $25,000. XTX Topco Ltd raised its holdings 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 buying an additional 28,943 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Odyssey Marine Exploration during the 3rd quarter worth approximately $32,000. 49.96% of the stock is currently owned by institutional investors and hedge funds.

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.