Odyssey Marine Exploration (NASDAQ:OMEX) Posts Earnings Results

Odyssey Marine Exploration (NASDAQ:OMEX) posted its earnings results on Tuesday. The business services provider reported ($0.34) earnings per share for the quarter, FiscalAI reports. The company had revenue of $0.02 million for the quarter.

Odyssey Marine Exploration Stock Performance

Shares of OMEX traded up $0.02 during mid-day trading on Wednesday, hitting $0.85. 59,476 shares of the company’s stock were exchanged, compared to its average volume of 943,811. The company has a market cap of $47.32 million, a price-to-earnings ratio of -1.09 and a beta of -0.78. Odyssey Marine Exploration has a fifty-two week low of $0.27 and a fifty-two week high of $4.43. The stock’s 50-day moving average is $1.58 and its 200-day moving average is $2.00.

Institutional Investors Weigh In On Odyssey Marine Exploration

Several large investors have recently added to or reduced their stakes in the business. Old West Investment Management LLC acquired a new stake in Odyssey Marine Exploration during the 3rd quarter worth approximately $7,170,000. Two Seas Capital LP increased its position in shares of Odyssey Marine Exploration by 219.4% during the third quarter. Two Seas Capital LP now owns 4,570,011 shares of the business services provider’s stock worth $8,912,000 after acquiring an additional 3,139,242 shares during the period. Jefferies Financial Group Inc. raised its stake in shares of Odyssey Marine Exploration by 275.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,500,000 shares of the business services provider’s stock valued at $2,940,000 after acquiring an additional 1,100,000 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Odyssey Marine Exploration by 1,428.9% in the fourth quarter. Renaissance Technologies LLC now owns 488,599 shares of the business services provider’s stock valued at $958,000 after purchasing an additional 456,642 shares during the period. Finally, Foundations Investment Advisors LLC purchased a new position in Odyssey Marine Exploration in the third quarter valued at $542,000. 49.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Odyssey Marine Exploration in a research note on Friday. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Odyssey Marine Exploration Company Profile

Odyssey Marine Exploration, Inc (NASDAQ: OMEX) is a marine technology and deep-ocean exploration company specializing in the location, recovery, and preservation of underwater cultural heritage. The company employs advanced remotely operated vehicles (ROVs) and proprietary seabed mapping systems to carry out high-precision surveys and recovery operations at depths exceeding 6,000 meters. Odyssey Marine’s mission centers on responsible stewardship of historic shipwrecks, valuable cargoes, and other submerged assets, combining maritime archaeology with commercially oriented salvage projects.

In addition to treasure recovery, Odyssey Marine offers a range of subsea services to support government, commercial, and scientific clients worldwide.