Odyssey Marine Exploration (NASDAQ:OMEX) Earns Sell Rating from Analysts at StockNews.com

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

Odyssey Marine Exploration Trading Down 8.3 %

OMEX opened at $0.44 on Friday. The company’s 50-day moving average price is $0.55 and its two-hundred day moving average price is $1.53. Odyssey Marine Exploration has a twelve month low of $0.30 and a twelve month high of $5.57.

Insider Transactions at Odyssey Marine Exploration

In related news, Director Mark B. Justh bought 50,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were purchased at an average price of $0.64 per share, for a total transaction of $32,000.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 7.10% of the stock is owned by corporate insiders.

Institutional Trading of Odyssey Marine Exploration

A number of institutional investors have recently added to or reduced their stakes in OMEX. Voisard Asset Management Group Inc. raised its position in shares of Odyssey Marine Exploration by 800.0% in the third quarter. Voisard Asset Management Group Inc. now owns 36,000 shares of the business services provider’s stock worth $30,000 after buying an additional 32,000 shares in the last quarter. Virtu Financial LLC bought a new position in Odyssey Marine Exploration in the 3rd quarter worth about $32,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Odyssey Marine Exploration in the 2nd quarter valued at about $372,000. Hedge funds and other institutional investors own 49.96% of the company’s stock.

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.