Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) Stock Short Interest Declines 95.9%

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) saw a large drop in short interest during the month of October. As of October 30th, there was short interest totaling 195,353 shares, a drop of 95.9% from the October 15th total of 4,766,804 shares. Currently, 8.8% of the company’s shares are sold short. Based on an average daily volume of 25,360 shares, the days-to-cover ratio is currently 7.7 days.

Wall Street Analyst Weigh In

A number of analysts have recently commented on OMEX shares. Wall Street Zen upgraded Odyssey Marine Exploration from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Odyssey Marine Exploration in a research report on Monday, September 21st. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Odyssey Marine Exploration

A hedge fund recently raised its stake in Odyssey Marine Exploration stock. Renaissance Technologies LLC lifted its holdings in Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) by 10.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 541,721 shares of the business services provider’s stock after acquiring an additional 53,122 shares during the period. Renaissance Technologies LLC owned approximately 0.92% of Odyssey Marine Exploration worth $452,000 as of its most recent SEC filing. Institutional investors own 49.96% of the company’s stock.

Odyssey Marine Exploration Stock Performance

Shares of NASDAQ OMEX traded down $0.44 during midday trading on Tuesday, hitting $10.31. The stock had a trading volume of 15,158 shares, compared to its average volume of 23,969. Odyssey Marine Exploration has a 1-year low of $9.59 and a 1-year high of $66.75. The company has a fifty day moving average price of $16.08 and a 200 day moving average price of $426.57.

Odyssey Marine Exploration (NASDAQ:OMEX) last posted its earnings results on Monday, November 2nd. The business services provider reported ($1.98) earnings per share (EPS) for the quarter. The company had revenue of $0.11 million for the quarter.

Odyssey Marine Exploration Company Profile

Odyssey Marine Exploration, Inc. is a deep-ocean exploration and technology company headquartered in Tampa, Florida. The company specializes in locating, researching, and developing marine mineral and other ocean-based resources, using remote-sensing systems, remotely operated vehicles, geophysical surveys, and related subsea technologies. Historically, Odyssey became known for its work identifying and recovering valuable shipwreck cargoes, including the discovery of the shipwreck known as the SS Central America.