Odyssey Marine Exploration (NASDAQ:OMEX) Rating Lowered to Sell at StockNews.com

Odyssey Marine Exploration (NASDAQ:OMEX) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

Odyssey Marine Exploration Stock Performance

OMEX stock traded down $0.04 during midday trading on Monday, reaching $3.91. 162,857 shares of the company’s stock traded hands, compared to its average volume of 103,072. The firm’s fifty day moving average price is $4.79 and its 200-day moving average price is $4.39. Odyssey Marine Exploration has a 52 week low of $2.85 and a 52 week high of $5.57.

Odyssey Marine Exploration (NASDAQ:OMEX) last posted its earnings results on Monday, May 20th. The business services provider reported ($0.18) earnings per share (EPS) for the quarter. The firm had revenue of $0.20 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OMEX. Deltec Asset Management LLC bought a new position in shares of Odyssey Marine Exploration in the first quarter worth approximately $107,000. Fifth Lane Capital LP purchased a new position in Odyssey Marine Exploration during the first quarter valued at $179,000. ARS Wealth Advisors Group LLC increased its holdings in shares of Odyssey Marine Exploration by 5.7% during the second quarter. ARS Wealth Advisors Group LLC now owns 51,089 shares of the business services provider’s stock valued at $249,000 after acquiring an additional 2,750 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Odyssey Marine Exploration by 39.1% during the first quarter. Vanguard Group Inc. now owns 836,505 shares of the business services provider’s stock valued at $3,187,000 after acquiring an additional 235,334 shares in the last quarter. Finally, FourWorld Capital Management LLC increased its holdings in shares of Odyssey Marine Exploration by 11.2% during the first quarter. FourWorld Capital Management LLC now owns 3,116,047 shares of the business services provider’s stock valued at $11,872,000 after acquiring an additional 313,926 shares in the last quarter. 49.96% of the stock is currently owned by 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.