Odyssey Marine Exploration (NASDAQ:OMEX) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.78 and traded as high as $2.34. Odyssey Marine Exploration shares last traded at $2.32, with a volume of 814,193 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Odyssey Marine Exploration in a research note on Monday, December 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Odyssey Marine Exploration Trading Up 1.3%

The business’s 50-day simple moving average is $2.37 and its two-hundred day simple moving average is $1.79. The company has a market capitalization of $130.99 million, a PE ratio of -3.01 and a beta of -0.86.

Odyssey Marine Exploration (NASDAQ:OMEX) last released its quarterly earnings results on Wednesday, November 12th. The business services provider reported ($0.31) EPS for the quarter. Odyssey Marine Exploration had a negative return on equity of 14.85% and a negative net margin of 6,569.59%.The business had revenue of $0.06 million during the quarter.

Insider Buying and Selling at Odyssey Marine Exploration

In other news, COO John D. Longley, Jr. sold 217,072 shares of the company’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $3.72, for a total value of $807,507.84. Following the sale, the chief operating officer owned 150,313 shares in the company, valued at approximately $559,164.36. This represents a 59.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.00% of the company’s stock.

Institutional Trading of Odyssey Marine Exploration

Hedge funds and other institutional investors have recently bought and sold shares of the company. Two Seas Capital LP lifted its holdings in Odyssey Marine Exploration by 219.4% during the 3rd quarter. Two Seas Capital LP now owns 4,570,011 shares of the business services provider’s stock worth $8,912,000 after buying an additional 3,139,242 shares during the last quarter. Old West Investment Management LLC bought a new position in Odyssey Marine Exploration during the third quarter worth $7,170,000. Jefferies Financial Group Inc. acquired a new position in Odyssey Marine Exploration in the third quarter worth $780,000. Foundations Investment Advisors LLC bought a new stake in shares of Odyssey Marine Exploration during the 3rd quarter valued at about $542,000. Finally, SLT Holdings LLC acquired a new stake in Odyssey Marine Exploration during the third quarter worth about $542,000. 49.96% of the stock is 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.