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

Investment analysts at StockNews.com initiated coverage on shares of Odyssey Marine Exploration (NASDAQ:OMEX) in a note issued to investors on Sunday. The firm set a “sell” rating on the business services provider’s stock.

Odyssey Marine Exploration Stock Up 0.1 %

OMEX opened at $0.48 on Friday. The company has a fifty day moving average price of $0.54 and a two-hundred day moving average price of $1.39. Odyssey Marine Exploration has a 52 week low of $0.30 and a 52 week high of $5.57.

Insiders Place Their Bets

In other news, Director Mark B. Justh purchased 50,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was bought at an average price of $0.64 per share, with a total value of $32,000.00. Following the acquisition, the director now directly owns 551,124 shares of the company’s stock, valued at approximately $352,719.36. This represents a 9.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On Odyssey Marine Exploration

Institutional investors and hedge funds have recently made changes to their positions in the company. Voisard Asset Management Group Inc. grew its holdings in shares of 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 valued at $30,000 after buying an additional 32,000 shares during the period. Virtu Financial LLC acquired a new position in shares of Odyssey Marine Exploration in the 3rd quarter valued at $32,000. XTX Topco Ltd grew its holdings in shares of Odyssey Marine Exploration by 225.5% in the 4th quarter. XTX Topco Ltd now owns 41,778 shares of the business services provider’s stock valued at $30,000 after buying an additional 28,943 shares during the period. Finally, Two Seas Capital LP grew its holdings 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. Institutional investors and hedge funds own 49.96% of the company’s stock.

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.