Odyssey Marine Exploration (NASDAQ:OMEX) Issues Earnings Results

Odyssey Marine Exploration (NASDAQ:OMEX) posted its quarterly earnings data on Tuesday. The business services provider reported ($0.04) earnings per share for the quarter, Zacks reports.

Odyssey Marine Exploration Trading Down 4.4%

Shares of OMEX traded down $0.05 during trading hours on Tuesday, reaching $1.09. The stock had a trading volume of 1,295,972 shares, compared to its average volume of 4,310,789. The company has a market capitalization of $63.79 million, a price-to-earnings ratio of -0.97 and a beta of -0.24. Odyssey Marine Exploration has a 12 month low of $0.72 and a 12 month high of $4.43. The firm has a 50-day simple moving average of $1.16 and a 200 day simple moving average of $1.71.

Odyssey Marine Exploration shares are set to reverse split on Wednesday, July 1st. The 1-25 reverse split was announced on Wednesday, April 8th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, June 30th.

Institutional Investors Weigh In On Odyssey Marine Exploration

A number of institutional investors and hedge funds have recently bought and sold shares of OMEX. Stifel Financial Corp bought a new position in shares of Odyssey Marine Exploration during the fourth quarter valued at about $29,000. Bank of America Corp DE grew its stake in Odyssey Marine Exploration by 632.8% during the third quarter. Bank of America Corp DE now owns 19,111 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 16,503 shares in the last quarter. Smithbridge Asset Management Inc. DE grew its stake in Odyssey Marine Exploration by 200.1% during the fourth quarter. Smithbridge Asset Management Inc. DE now owns 36,010 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 24,010 shares in the last quarter. Centiva Capital LP purchased a new position in Odyssey Marine Exploration during the third quarter valued at approximately $57,000. Finally, Two Sigma Investments LP grew its stake in Odyssey Marine Exploration by 127.8% in the 3rd quarter. Two Sigma Investments LP now owns 84,029 shares of the business services provider’s stock worth $164,000 after buying an additional 47,145 shares in the last quarter. 49.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Odyssey Marine Exploration in a research note on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Odyssey Marine Exploration currently has an average rating of “Sell”.

About Odyssey Marine Exploration

Odyssey Marine Exploration, Inc (NASDAQ: OMEX) is a marine technology and deep-ocean exploration company specializing in the location, recovery, and preservation of underwater cultural heritage. The company employs advanced remotely operated vehicles (ROVs) and proprietary seabed mapping systems to carry out high-precision surveys and recovery operations at depths exceeding 6,000 meters. Odyssey Marine’s mission centers on responsible stewardship of historic shipwrecks, valuable cargoes, and other submerged assets, combining maritime archaeology with commercially oriented salvage projects.

In addition to treasure recovery, Odyssey Marine offers a range of subsea services to support government, commercial, and scientific clients worldwide.