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

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

Odyssey Marine Exploration Price Performance

NASDAQ OMEX opened at $0.44 on Friday. Odyssey Marine Exploration has a 52-week low of $0.30 and a 52-week high of $5.57. The business’s 50-day moving average price is $0.55 and its 200 day moving average price is $1.58.

Insider Activity

In other news, Director Mark B. Justh purchased 50,000 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were acquired at an average cost 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 $352,719.36. The trade was a 9.98 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On Odyssey Marine Exploration

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in Odyssey Marine Exploration during the third quarter worth about $32,000. Voisard Asset Management Group Inc. lifted its position in shares of 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 valued at $30,000 after acquiring an additional 32,000 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Odyssey Marine Exploration during the 2nd quarter worth approximately $372,000. 49.96% of the stock is owned by institutional investors and hedge funds.

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.