Odyssey Marine Exploration (NASDAQ:OMEX) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.91 and traded as high as $1.50. Odyssey Marine Exploration shares last traded at $1.36, with a volume of 2,144,251 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Odyssey Marine Exploration from a “hold” rating to a “sell” rating in a research report on Sunday, August 10th.

Odyssey Marine Exploration Stock Performance

The firm’s 50 day simple moving average is $1.39 and its 200-day simple moving average is $0.91.

Odyssey Marine Exploration (NASDAQ:OMEX) last announced its earnings results on Tuesday, August 19th. The business services provider reported ($0.48) EPS for the quarter. Odyssey Marine Exploration had a net margin of 2,054.49% and a negative return on equity of 14.85%.

Insider Activity at Odyssey Marine Exploration

In related news, major shareholder Gallardo Juan Antonio Cortina sold 409,100 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $1.70, for a total transaction of $695,470.00. Following the sale, the insider directly owned 1,991,998 shares in the company, valued at approximately $3,386,396.60. This trade represents a 17.04% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 979,100 shares of company stock worth $1,673,942. Company insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On Odyssey Marine Exploration

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Voisard Asset Management Group Inc. boosted its position in Odyssey Marine Exploration by 59.1% in the 2nd quarter. Voisard Asset Management Group Inc. now owns 35,000 shares of the business services provider’s stock valued at $41,000 after buying an additional 13,000 shares during the last quarter. L. Roy Papp & Associates LLP purchased a new position in Odyssey Marine Exploration in the 1st quarter valued at about $61,000. Two Seas Capital LP boosted its position 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 last quarter. Two Sigma Investments LP purchased a new position in Odyssey Marine Exploration in the 4th quarter valued at about $25,000. Finally, XTX Topco Ltd boosted its position 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 buying an additional 28,943 shares during the last quarter. 49.96% of the stock is owned by hedge funds and other institutional investors.

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.