Odyssey Marine Exploration (NASDAQ:OMEX) Coverage Initiated at StockNews.com

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

Odyssey Marine Exploration Stock Down 2.5 %

Shares of NASDAQ OMEX opened at $0.39 on Tuesday. Odyssey Marine Exploration has a 12-month low of $0.30 and a 12-month high of $5.57. The company has a 50-day moving average of $0.56 and a 200 day moving average of $1.09.

Insider Buying and Selling at Odyssey Marine Exploration

In other news, Director Mark B. Justh bought 50,000 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were bought at an average cost of $0.64 per share, for a total transaction of $32,000.00. Following the acquisition, the director now directly owns 551,124 shares of the company’s stock, valued at $352,719.36. This trade represents a 9.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 7.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Odyssey Marine Exploration

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

About Odyssey Marine Exploration

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.