StockNews.com Initiates Coverage on Odyssey Marine Exploration (NASDAQ:OMEX)

Research analysts at StockNews.com assumed coverage on shares of Odyssey Marine Exploration (NASDAQ:OMEX) in a research report issued to clients and investors on Thursday. The firm set a “sell” rating on the business services provider’s stock.

Odyssey Marine Exploration Trading Down 2.1 %

Shares of NASDAQ:OMEX opened at $0.42 on Thursday. Odyssey Marine Exploration has a twelve month low of $0.30 and a twelve month high of $5.57. The company’s 50 day moving average is $0.51 and its 200 day moving average is $0.84.

Insider Activity

In related news, Director Mark B. Justh bought 250,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was acquired at an average cost of $0.55 per share, with a total value of $137,500.00. Following the purchase, the director now directly owns 501,124 shares of the company’s stock, valued at $275,618.20. The trade was a 99.55 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On Odyssey Marine Exploration

A number of hedge funds and other institutional investors have recently bought and sold shares of OMEX. Two Seas Capital LP boosted its stake 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 buying an additional 2,449,049 shares during the period. XTX Topco Ltd lifted its stake in Odyssey Marine Exploration by 225.5% during the fourth quarter. XTX Topco Ltd now owns 41,778 shares of the business services provider’s stock worth $30,000 after purchasing an additional 28,943 shares during the last quarter. Virtu Financial LLC acquired a new position in Odyssey Marine Exploration during the third quarter worth approximately $32,000. Finally, Two Sigma Investments LP acquired a new position in Odyssey Marine Exploration during the fourth quarter worth approximately $25,000. 49.96% of the stock is currently 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.