Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) Stock Short Interest Declines 95.9%

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) was the recipient of a large drop in short interest in October. As of October 30th, there was short interest totaling 195,353 shares, a drop of 95.9% from the October 15th total of 4,766,804 shares. Currently, 8.8% of the shares of the stock are sold short. Based on an average daily volume of 25,360 shares, the days-to-cover ratio is presently 7.7 days.

Odyssey Marine Exploration Trading Down 4.1%

Shares of Odyssey Marine Exploration stock traded down $0.44 during trading hours on Tuesday, reaching $10.31. 15,158 shares of the company’s stock were exchanged, compared to its average volume of 23,969. Odyssey Marine Exploration has a 52-week low of $9.59 and a 52-week high of $66.75. The company has a fifty day moving average of $16.08 and a 200-day moving average of $426.57.

Odyssey Marine Exploration (NASDAQ:OMEX) last released its earnings results on Monday, November 2nd. The business services provider reported ($1.98) EPS for the quarter. The company had revenue of $0.11 million during the quarter.

Analyst Ratings Changes

Several research analysts recently weighed in on OMEX shares. Wall Street Zen raised shares of Odyssey Marine Exploration from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Odyssey Marine Exploration in a report on Monday, September 21st. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund 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 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 541,721 shares of the business services provider’s stock after acquiring an additional 53,122 shares during the period. Renaissance Technologies LLC owned 0.92% of Odyssey Marine Exploration worth $452,000 as of its most recent SEC filing. 49.96% of the stock is currently owned by institutional investors.

Odyssey Marine Exploration Company Profile

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.