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

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.93 and traded as high as $2.28. Odyssey Marine Exploration shares last traded at $2.19, with a volume of 559,609 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Odyssey Marine Exploration in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Odyssey Marine Exploration Price Performance

The firm has a fifty day moving average of $2.07 and a 200 day moving average of $1.93. The stock has a market capitalization of $122.07 million, a price-to-earnings ratio of -2.81 and a beta of -0.86.

Odyssey Marine Exploration (NASDAQ:OMEX) last announced its quarterly earnings results on Wednesday, November 12th. The business services provider reported ($0.31) earnings per share (EPS) for the quarter. The business had revenue of $0.06 million during the quarter.

Insider Activity

In related 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 sale, the chief operating officer directly owned 150,313 shares of the company’s stock, valued at approximately $559,164.36. This represents a 59.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 7.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OMEX. Bank of America Corp DE grew its position in shares of Odyssey Marine Exploration by 632.8% during the 3rd quarter. Bank of America Corp DE now owns 19,111 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 16,503 shares during the period. Centiva Capital LP purchased a new position in Odyssey Marine Exploration during the third quarter worth approximately $57,000. Voisard Asset Management Group Inc. grew its holdings in Odyssey Marine Exploration by 59.1% in the second 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. Two Sigma Investments LP increased its position in shares of 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 valued at $164,000 after buying an additional 47,145 shares in the last quarter. Finally, Foundations Investment Advisors LLC acquired a new position in shares of Odyssey Marine Exploration during the 3rd quarter worth approximately $542,000. Institutional investors and hedge funds own 49.96% of the company’s stock.

Odyssey Marine Exploration Company Profile

Odyssey Marine Exploration, Inc (NASDAQ: OMEX) is a marine technology and deep-ocean exploration company specializing in the location, recovery, and preservation of underwater cultural heritage. The company employs advanced remotely operated vehicles (ROVs) and proprietary seabed mapping systems to carry out high-precision surveys and recovery operations at depths exceeding 6,000 meters. Odyssey Marine’s mission centers on responsible stewardship of historic shipwrecks, valuable cargoes, and other submerged assets, combining maritime archaeology with commercially oriented salvage projects.

In addition to treasure recovery, Odyssey Marine offers a range of subsea services to support government, commercial, and scientific clients worldwide.