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

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

Odyssey Marine Exploration Stock Performance

OMEX opened at $0.46 on Thursday. The business has a 50 day moving average price of $0.50 and a 200 day moving average price of $0.79. Odyssey Marine Exploration has a twelve month low of $0.30 and a twelve month high of $5.57.

Insider Buying and Selling

In other news, Director Mark B. Justh bought 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were purchased at an average price of $0.55 per share, for a total transaction of $137,500.00. Following the acquisition, the director now directly owns 501,124 shares of the company’s stock, valued at $275,618.20. The trade was a 99.55 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 7.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Odyssey Marine Exploration

Hedge funds and other institutional investors have recently made changes to their positions in the business. XTX Topco Ltd lifted its position in shares of Odyssey Marine Exploration by 225.5% during the 4th quarter. XTX Topco Ltd now owns 41,778 shares of the business services provider’s stock worth $30,000 after purchasing an additional 28,943 shares during the last quarter. Two Sigma Investments LP acquired a new stake in Odyssey Marine Exploration in the 4th quarter valued at approximately $25,000. Virtu Financial LLC bought a new position in Odyssey Marine Exploration in the 3rd quarter worth approximately $32,000. Finally, Two Seas Capital LP lifted its holdings in shares of Odyssey Marine Exploration by 2,449.0% during the fourth quarter. Two Seas Capital LP now owns 2,549,049 shares of the business services provider’s stock worth $1,835,000 after buying an additional 2,449,049 shares during the last quarter. 49.96% of the stock is owned by institutional investors and hedge funds.

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.