Short Interest in Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) Decreases By 21.7%

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) saw a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 2,060,000 shares, a drop of 21.7% from the December 31st total of 2,630,000 shares. Based on an average daily trading volume, of 2,280,000 shares, the days-to-cover ratio is currently 0.9 days.

Odyssey Marine Exploration Stock Performance

NASDAQ:OMEX opened at $0.48 on Friday. Odyssey Marine Exploration has a fifty-two week low of $0.30 and a fifty-two week high of $5.57. The company has a fifty day moving average of $0.53 and a two-hundred day moving average of $1.75.

Insider Activity at Odyssey Marine Exploration

In other Odyssey Marine Exploration news, Director Mark B. Justh purchased 50,000 shares of the stock in a transaction on Tuesday, December 31st. The shares were bought at an average price of $0.64 per share, for a total transaction of $32,000.00. Following the completion of the transaction, the director now owns 551,124 shares of the company’s stock, valued at $352,719.36. This trade represents a 9.98 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 7.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Voisard Asset Management Group Inc. boosted its holdings in Odyssey Marine Exploration by 800.0% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 36,000 shares of the business services provider’s stock worth $30,000 after buying an additional 32,000 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Odyssey Marine Exploration in the third quarter valued at approximately $32,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Odyssey Marine Exploration in the second quarter valued at approximately $372,000. Institutional investors and hedge funds own 49.96% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Odyssey Marine Exploration in a research note on Sunday, January 5th. They set a “sell” rating for the company.

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.