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

Analysts at StockNews.com assumed coverage on shares of Odyssey Marine Exploration (NASDAQ:OMEX) in a report released on Friday. The brokerage set a “sell” rating on the business services provider’s stock.

Odyssey Marine Exploration Stock Performance

Shares of NASDAQ:OMEX opened at $0.41 on Friday. The firm’s 50 day moving average is $0.48 and its two-hundred day moving average is $0.66. Odyssey Marine Exploration has a 52 week low of $0.30 and a 52 week high of $5.57.

Insider Activity at Odyssey Marine Exploration

In other Odyssey Marine Exploration news, Director Mark B. Justh purchased 50,000 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was bought at an average price of $0.64 per share, with a total value of $32,000.00. Following the completion of the purchase, the director now owns 551,124 shares in the company, valued at $352,719.36. This trade represents a 9.98 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Odyssey Marine Exploration

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Two Sigma Investments LP acquired a new position in Odyssey Marine Exploration during the 4th quarter valued at about $25,000. Virtu Financial LLC acquired a new position in shares of Odyssey Marine Exploration during the third quarter valued at approximately $32,000. XTX Topco Ltd increased its stake in shares of Odyssey Marine Exploration by 225.5% during the fourth quarter. XTX Topco Ltd now owns 41,778 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 28,943 shares during the period. Finally, Two Seas Capital LP raised its holdings in 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 purchasing an additional 2,449,049 shares in the last quarter. 49.96% of the stock is currently owned by institutional investors.

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.