Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) Short Interest Update

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 3,500,000 shares, an increase of 21.1% from the August 15th total of 2,890,000 shares. Currently, 8.4% of the shares of the stock are sold short. Based on an average trading volume of 2,730,000 shares, the short-interest ratio is presently 1.3 days. Based on an average trading volume of 2,730,000 shares, the short-interest ratio is presently 1.3 days. Currently, 8.4% of the shares of the stock are sold short.

Insider Transactions at Odyssey Marine Exploration

In related news, major shareholder Gallardo Juan Antonio Cortina sold 473,591 shares of Odyssey Marine Exploration stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $1.72, for a total transaction of $814,576.52. Following the transaction, the insider directly owned 2,401,098 shares of the company’s stock, valued at $4,129,888.56. The trade was a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 979,100 shares of company stock worth $1,673,942 over the last quarter. 8.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Odyssey Marine Exploration

Institutional investors and hedge funds have recently bought and sold shares of the business. Voisard Asset Management Group Inc. increased its holdings in shares of 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 purchasing an additional 13,000 shares during the period. L. Roy Papp & Associates LLP acquired a new position in shares of Odyssey Marine Exploration in the 1st quarter valued at about $61,000. Two Seas Capital LP increased its holdings in shares of 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 purchasing an additional 2,449,049 shares during the period. Finally, Two Sigma Investments LP acquired a new position in shares of Odyssey Marine Exploration in the 4th quarter valued at about $25,000. Hedge funds and other institutional investors own 49.96% of the company’s stock.

Analysts Set New Price Targets

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

Odyssey Marine Exploration Trading Up 4.0%

NASDAQ:OMEX opened at $1.82 on Friday. Odyssey Marine Exploration has a 1-year low of $0.27 and a 1-year high of $2.25. The stock has a fifty day simple moving average of $1.62 and a 200 day simple moving average of $1.10.

Odyssey Marine Exploration (NASDAQ:OMEX) last released its quarterly earnings results on Tuesday, August 19th. The business services provider reported ($0.48) earnings per share for the quarter. Odyssey Marine Exploration had a net margin of 174.35% and a negative return on equity of 14.85%. The company had revenue of $0.14 million during the quarter.

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.