Odyssey Marine Exploration (NASDAQ:OMEX) Coverage Initiated at StockNews.com

Analysts at StockNews.com assumed coverage on shares of Odyssey Marine Exploration (NASDAQ:OMEX) in a research note issued on Friday. The firm set a “sell” rating on the business services provider’s stock.

Odyssey Marine Exploration Stock Up 0.7 %

Shares of NASDAQ OMEX opened at $0.43 on Friday. Odyssey Marine Exploration has a twelve month low of $0.30 and a twelve month high of $5.57. The stock has a fifty day simple moving average of $0.48 and a 200-day simple moving average of $0.71.

Insiders Place Their Bets

In other Odyssey Marine Exploration news, Director Mark B. Justh purchased 50,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was acquired at an average price of $0.64 per share, for a total transaction of $32,000.00. Following the completion of the purchase, the director now directly owns 551,124 shares in the company, valued at approximately $352,719.36. The trade was a 9.98 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.10% of the company’s stock.

Institutional Trading of Odyssey Marine Exploration

Several hedge funds have recently modified their holdings of OMEX. Two Seas Capital LP increased 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 purchasing an additional 2,449,049 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Odyssey Marine Exploration during the third quarter worth $32,000. Two Sigma Investments LP purchased a new position in Odyssey Marine Exploration in the fourth quarter valued at $25,000. Finally, XTX Topco Ltd increased its holdings in Odyssey Marine Exploration by 225.5% in the fourth quarter. XTX Topco Ltd now owns 41,778 shares of the business services provider’s stock valued at $30,000 after buying an additional 28,943 shares during the last quarter. 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.