Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) Sees Large Drop in Short Interest

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) was the target of a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 2,735,107 shares, a drop of 17.1% from the January 15th total of 3,299,596 shares. Based on an average daily volume of 1,719,706 shares, the days-to-cover ratio is presently 1.6 days. Approximately 5.3% of the company’s stock are sold short. Approximately 5.3% of the company’s stock are sold short. Based on an average daily volume of 1,719,706 shares, the days-to-cover ratio is presently 1.6 days.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Odyssey Marine Exploration in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Odyssey Marine Exploration Stock Performance

Shares of NASDAQ:OMEX traded up $0.04 during trading hours on Monday, reaching $1.66. The stock had a trading volume of 459,235 shares, compared to its average volume of 1,160,383. Odyssey Marine Exploration has a 1 year low of $0.27 and a 1 year high of $4.43. The firm’s 50 day moving average is $2.07 and its 200-day moving average is $2.06. The stock has a market capitalization of $92.53 million, a price-to-earnings ratio of -2.13 and a beta of -0.84.

Institutional Investors Weigh In On Odyssey Marine Exploration

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tradewinds Capital Management LLC acquired a new position in Odyssey Marine Exploration in the fourth quarter valued at approximately $27,000. Stifel Financial Corp purchased a new stake in shares of Odyssey Marine Exploration during the 4th quarter worth approximately $29,000. Bank of America Corp DE boosted its holdings in shares of Odyssey Marine Exploration by 632.8% in 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 buying an additional 16,503 shares in the last quarter. Centiva Capital LP purchased a new position in shares of Odyssey Marine Exploration in the 3rd quarter valued at $57,000. Finally, Valeo Financial Advisors LLC purchased a new position in shares of Odyssey Marine Exploration in the 4th quarter valued at $59,000. Institutional investors and hedge funds own 49.96% of the company’s stock.

About Odyssey Marine Exploration

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.