Odyssey Marine Exploration (NASDAQ:OMEX) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.68 and traded as high as $2.0499. Odyssey Marine Exploration shares last traded at $1.89, with a volume of 856,305 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Odyssey Marine Exploration in a research report on Wednesday, October 8th. Wall Street Zen downgraded Odyssey Marine Exploration from a “hold” rating to a “sell” rating in a research note on Sunday, August 10th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Odyssey Marine Exploration has a consensus rating of “Sell”.

Odyssey Marine Exploration Trading Down 2.6%

The stock has a market cap of $105.34 million, a P/E ratio of -5.56 and a beta of -0.85. The business has a 50-day simple moving average of $2.32 and a 200 day simple moving average of $1.68.

Odyssey Marine Exploration (NASDAQ:OMEX) last posted its quarterly earnings data on Wednesday, November 12th. The business services provider reported ($0.31) EPS for the quarter. Odyssey Marine Exploration had a negative return on equity of 14.85% and a net margin of 174.35%.The company had revenue of $0.06 million during the quarter.

Insider Activity at Odyssey Marine Exploration

In other news, COO John D. Longley, Jr. sold 217,072 shares of the stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $3.72, for a total transaction of $807,507.84. Following the completion of the sale, the chief operating officer directly owned 150,313 shares in the company, valued at $559,164.36. This represents a 59.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 8.00% of the company’s stock.

Institutional Trading of Odyssey Marine Exploration

Large investors have recently bought and sold shares of the business. Two Seas Capital LP raised its position in shares of Odyssey Marine Exploration by 219.4% in the 3rd quarter. Two Seas Capital LP now owns 4,570,011 shares of the business services provider’s stock worth $8,912,000 after acquiring an additional 3,139,242 shares in the last quarter. Centiva Capital LP acquired a new stake in Odyssey Marine Exploration during the third quarter worth approximately $57,000. Bank of America Corp DE increased its holdings in Odyssey Marine Exploration by 632.8% in the third quarter. Bank of America Corp DE now owns 19,111 shares of the business services provider’s stock worth $37,000 after purchasing an additional 16,503 shares in the last quarter. Two Sigma Investments LP increased its holdings in Odyssey Marine Exploration by 127.8% in the third quarter. Two Sigma Investments LP now owns 84,029 shares of the business services provider’s stock worth $164,000 after purchasing an additional 47,145 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in Odyssey Marine Exploration in the third quarter valued at approximately $780,000. 49.96% of the stock is currently owned by institutional investors and hedge funds.

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.