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

StockNews.com started coverage on shares of Odyssey Marine Exploration (NASDAQ:OMEX) in a report released on Saturday. The brokerage issued a sell rating on the business services provider’s stock.

Odyssey Marine Exploration Price Performance

OMEX stock opened at $0.65 on Friday. The company’s 50-day moving average price is $0.46 and its two-hundred day moving average price is $2.37. Odyssey Marine Exploration has a 12 month low of $0.30 and a 12 month high of $5.57.

Insider Buying and Selling at Odyssey Marine Exploration

In related news, Director Mark B. Justh bought 250,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was purchased at an average price of $0.55 per share, with a total value of $137,500.00. Following the completion of the acquisition, the director now owns 501,124 shares of the company’s stock, valued at $275,618.20. The trade was a 99.55 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Odyssey Marine Exploration

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cowen AND Company LLC boosted its position in Odyssey Marine Exploration by 20.0% in the second quarter. Cowen AND Company LLC now owns 36,000 shares of the business services provider’s stock valued at $176,000 after buying an additional 6,000 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Odyssey Marine Exploration in the 3rd quarter valued at $32,000. Voisard Asset Management Group Inc. boosted its holdings in shares of Odyssey Marine Exploration by 800.0% during 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 acquiring an additional 32,000 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Odyssey Marine Exploration during the 2nd quarter worth $372,000. 49.96% of the stock is 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.