Odyssey Marine Exploration (NASDAQ:OMEX) Announces Earnings Results

Odyssey Marine Exploration (NASDAQ:OMEX) announced its quarterly earnings results on Tuesday. The business services provider reported ($0.16) earnings per share for the quarter, FiscalAI reports. The business had revenue of $0.08 million for the quarter.

Odyssey Marine Exploration Price Performance

OMEX stock traded up $0.02 during midday trading on Tuesday, reaching $0.90. 232,773 shares of the company’s stock traded hands, compared to its average volume of 2,794,330. The company has a market capitalization of $52.74 million, a P/E ratio of -0.77 and a beta of -0.15. Odyssey Marine Exploration has a fifty-two week low of $0.58 and a fifty-two week high of $4.43. The business has a 50-day moving average price of $10.19 and a two-hundred day moving average price of $25.31.

Hedge Funds Weigh In On Odyssey Marine Exploration

Hedge funds have recently made changes to their positions in the business. Valeo Financial Advisors LLC acquired a new stake in Odyssey Marine Exploration in the 4th quarter valued at $59,000. SLT Holdings LLC lifted its stake in shares of Odyssey Marine Exploration by 4.9% during the fourth quarter. SLT Holdings LLC now owns 291,250 shares of the business services provider’s stock worth $571,000 after purchasing an additional 13,500 shares in the last quarter. Jefferies Financial Group Inc. lifted its stake in shares of Odyssey Marine Exploration by 275.0% during the fourth quarter. Jefferies Financial Group Inc. now owns 1,500,000 shares of the business services provider’s stock worth $2,940,000 after purchasing an additional 1,100,000 shares in the last quarter. Old West Investment Management LLC boosted its position in shares of Odyssey Marine Exploration by 49.5% in the fourth quarter. Old West Investment Management LLC now owns 5,496,448 shares of the business services provider’s stock worth $10,773,000 after buying an additional 1,819,566 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Odyssey Marine Exploration by 37.3% in the fourth quarter. Geode Capital Management LLC now owns 559,991 shares of the business services provider’s stock worth $1,098,000 after buying an additional 152,071 shares during the period. Hedge funds and other institutional investors own 49.96% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Odyssey Marine Exploration in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Odyssey Marine Exploration Company Profile

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.