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

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

Odyssey Marine Exploration Stock Down 18.9 %

Odyssey Marine Exploration stock opened at $0.56 on Monday. The stock has a 50 day moving average of $0.42 and a two-hundred day moving average of $0.49. Odyssey Marine Exploration has a twelve month low of $0.27 and a twelve month high of $5.57.

Hedge Funds Weigh In On Odyssey Marine Exploration

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OMEX. Two Seas Capital LP increased its stake in shares of Odyssey Marine Exploration by 2,449.0% during 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 acquiring an additional 2,449,049 shares during the last quarter. L. Roy Papp & Associates LLP bought a new position in shares of Odyssey Marine Exploration during the first quarter worth about $61,000. XTX Topco Ltd raised its position in shares of Odyssey Marine Exploration by 225.5% during 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 in the last quarter. Virtu Financial LLC acquired a new stake in shares of Odyssey Marine Exploration during the third quarter worth $32,000. Finally, Two Sigma Investments LP bought a new position in Odyssey Marine Exploration during the 4th quarter worth $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.