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

StockNews.com initiated coverage on shares of Odyssey Marine Exploration (NASDAQ:OMEX) in a research report report published on Sunday morning. The brokerage issued a sell rating on the business services provider’s stock.

Odyssey Marine Exploration Price Performance

OMEX opened at $0.69 on Friday. Odyssey Marine Exploration has a 1-year low of $0.30 and a 1-year high of $5.57. The business has a 50 day moving average of $0.47 and a 200-day moving average of $2.21.

Insider Activity at Odyssey Marine Exploration

In other Odyssey Marine Exploration news, Director Mark B. Justh bought 250,000 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were acquired at an average cost of $0.55 per share, for a total transaction of $137,500.00. Following the transaction, the director now owns 501,124 shares in the company, valued at approximately $275,618.20. The trade was a 99.55 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Odyssey Marine Exploration

Large investors have recently modified their holdings of the stock. Cowen AND Company LLC boosted its stake in shares of Odyssey Marine Exploration by 20.0% in the 2nd quarter. Cowen AND Company LLC now owns 36,000 shares of the business services provider’s stock valued at $176,000 after purchasing an additional 6,000 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Odyssey Marine Exploration during the third quarter valued at approximately $32,000. Voisard Asset Management Group Inc. boosted its position in Odyssey Marine Exploration by 800.0% in 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 buying an additional 32,000 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Odyssey Marine Exploration in the second quarter valued at about $372,000. 49.96% of the stock is currently owned by institutional investors.

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.