Odyssey Marine Exploration (NASDAQ:OMEX) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.65 and traded as high as $1.52. Odyssey Marine Exploration shares last traded at $1.22, with a volume of 4,630,967 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen started coverage on Odyssey Marine Exploration in a report on Tuesday, April 29th. They issued a “sell” rating for the company.

Odyssey Marine Exploration Price Performance

The stock has a 50 day simple moving average of $0.98 and a two-hundred day simple moving average of $0.65.

Odyssey Marine Exploration (NASDAQ:OMEX) last released its earnings results on Monday, May 12th. The business services provider reported $0.01 earnings per share for the quarter. Odyssey Marine Exploration had a net margin of 2,054.49% and a negative return on equity of 14.85%. The business had revenue of $0.14 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OMEX. L. Roy Papp & Associates LLP bought a new position in Odyssey Marine Exploration during the first quarter worth about $61,000. 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 acquiring an additional 2,449,049 shares during the period. Two Sigma Investments LP bought a new position in Odyssey Marine Exploration in the 4th quarter valued at about $25,000. Finally, XTX Topco Ltd raised its holdings in 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. Institutional investors own 49.96% of the company’s stock.

Odyssey Marine Exploration Company Profile

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.