Odyssey Marine Exploration (NASDAQ:OMEX) Shares Gap Down – Here’s Why

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX)’s stock price gapped down before the market opened on Thursday. The stock had previously closed at $13.55, but opened at $12.26. Odyssey Marine Exploration shares last traded at $13.4370, with a volume of 3,517 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on OMEX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Odyssey Marine Exploration in a report on Monday, September 21st. Wall Street Zen raised shares of Odyssey Marine Exploration from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, Odyssey Marine Exploration currently has a consensus rating of “Sell”.

Odyssey Marine Exploration Stock Down 2.3%

The firm has a market cap of $776.78 million, a PE ratio of -15.57 and a beta of 0.06. The company has a 50-day simple moving average of $0.72 and a two-hundred day simple moving average of $19.49.

Odyssey Marine Exploration (NASDAQ:OMEX) last announced its quarterly earnings data on Tuesday, August 11th. The business services provider reported ($4.00) EPS for the quarter. The business had revenue of $0.08 million for the quarter.

Hedge Funds Weigh In On Odyssey Marine Exploration

An institutional investor recently raised its position in Odyssey Marine Exploration stock. Renaissance Technologies LLC lifted its stake in shares of Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) by 10.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 541,721 shares of the business services provider’s stock after purchasing an additional 53,122 shares during the quarter. Renaissance Technologies LLC owned 0.92% of Odyssey Marine Exploration worth $452,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 49.96% of the company’s stock.

About Odyssey Marine Exploration

Odyssey Marine Exploration, Inc is a deep-ocean exploration and technology company headquartered in Tampa, Florida. The company specializes in locating, researching, and developing marine mineral and other ocean-based resources, using remote-sensing systems, remotely operated vehicles, geophysical surveys, and related subsea technologies.

Historically, Odyssey became known for its work identifying and recovering valuable shipwreck cargoes, including the discovery of the shipwreck known as the SS Central America.