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

Analysts at StockNews.com initiated coverage on shares of Odyssey Marine Exploration (NASDAQ:OMEX) in a research report issued to clients and investors on Thursday. The brokerage set a “sell” rating on the business services provider’s stock.

Odyssey Marine Exploration Trading Up 7.0 %

Shares of Odyssey Marine Exploration stock opened at $0.46 on Thursday. The business’s 50 day moving average price is $0.50 and its 200 day moving average price is $0.81. Odyssey Marine Exploration has a one year low of $0.30 and a one year high of $5.57.

Insider Activity at Odyssey Marine Exploration

In other Odyssey Marine Exploration news, Director Mark B. Justh bought 50,000 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was bought at an average price of $0.64 per share, with a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Odyssey Marine Exploration

Several large investors have recently modified their holdings of OMEX. Two Seas Capital LP raised its holdings in Odyssey Marine Exploration by 2,449.0% in the 4th quarter. Two Seas Capital LP now owns 2,549,049 shares of the business services provider’s stock valued at $1,835,000 after buying an additional 2,449,049 shares during the period. XTX Topco Ltd raised its stake in shares of Odyssey Marine Exploration by 225.5% in the 4th quarter. XTX Topco Ltd now owns 41,778 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 28,943 shares during the period. Virtu Financial LLC purchased a new stake in shares of Odyssey Marine Exploration in the 3rd quarter valued at approximately $32,000. Finally, Two Sigma Investments LP acquired a new position in shares of Odyssey Marine Exploration in the 4th quarter worth approximately $25,000. Institutional investors and hedge funds 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.