Odyssey Marine Exploration (NASDAQ:OMEX) Releases Earnings Results

Odyssey Marine Exploration (NASDAQ:OMEX) released its earnings results on Tuesday. The business services provider reported ($0.16) EPS for the quarter, FiscalAI reports. The firm had revenue of $0.08 million during the quarter.

Odyssey Marine Exploration Trading Down 1.6%

NASDAQ:OMEX opened at $0.89 on Wednesday. The firm has a fifty day simple moving average of $9.64 and a 200 day simple moving average of $24.94. Odyssey Marine Exploration has a 1-year low of $0.58 and a 1-year high of $4.43. The stock has a market capitalization of $51.89 million, a PE ratio of -0.76 and a beta of -0.15.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Odyssey Marine Exploration in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OMEX. Two Seas Capital LP grew its position in shares of Odyssey Marine Exploration by 219.4% in the third quarter. Two Seas Capital LP now owns 4,570,011 shares of the business services provider’s stock valued at $8,912,000 after purchasing an additional 3,139,242 shares during the last quarter. Old West Investment Management LLC increased its position in shares of Odyssey Marine Exploration by 49.5% in the fourth quarter. Old West Investment Management LLC now owns 5,496,448 shares of the business services provider’s stock worth $10,773,000 after purchasing an additional 1,819,566 shares during the period. Jefferies Financial Group Inc. raised its stake in 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 purchasing an additional 1,100,000 shares in the last quarter. Renaissance Technologies LLC lifted its position in Odyssey Marine Exploration by 1,428.9% during the fourth quarter. Renaissance Technologies LLC now owns 488,599 shares of the business services provider’s stock worth $958,000 after purchasing an additional 456,642 shares during the period. Finally, Mangrove Partners IM LLC bought a new position in Odyssey Marine Exploration in the 4th quarter valued at about $388,000. 49.96% of the stock is currently owned by institutional investors.

About Odyssey Marine Exploration

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.