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

Equities researchers at StockNews.com initiated coverage on shares of Odyssey Marine Exploration (NASDAQ:OMEX) in a research report issued on Sunday. The firm set a “sell” rating on the business services provider’s stock.

Odyssey Marine Exploration Price Performance

NASDAQ:OMEX opened at $0.75 on Friday. The company’s 50 day moving average is $0.47 and its 200-day moving average is $2.24. Odyssey Marine Exploration has a 12 month low of $0.30 and a 12 month high of $5.57.

Insider Activity

In related news, Director Mark B. Justh acquired 50,000 shares of the stock in a transaction dated Tuesday, December 31st. The shares were acquired at an average price of $0.64 per share, for a total transaction of $32,000.00. Following the completion of the purchase, the director now owns 551,124 shares in the company, valued at approximately $352,719.36. The trade was a 9.98 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Odyssey Marine Exploration

Several large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in shares of Odyssey Marine Exploration during the second quarter valued at approximately $372,000. Virtu Financial LLC bought a new stake in Odyssey Marine Exploration in the 3rd quarter valued at $32,000. Voisard Asset Management Group Inc. raised its stake in shares of Odyssey Marine Exploration by 800.0% in 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 buying an additional 32,000 shares in the last quarter. Finally, Cowen AND Company LLC lifted its holdings in shares of Odyssey Marine Exploration by 20.0% during the 2nd quarter. Cowen AND Company LLC now owns 36,000 shares of the business services provider’s stock worth $176,000 after acquiring an additional 6,000 shares during the period. Institutional investors and hedge funds own 49.96% of the company’s stock.

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.