StockNews.com Begins Coverage on Odyssey Marine Exploration (NASDAQ:OMEX)

StockNews.com began coverage on shares of Odyssey Marine Exploration (NASDAQ:OMEX) in a report issued on Saturday morning. The firm issued a sell rating on the business services provider’s stock.

Odyssey Marine Exploration Trading Up 7.5 %

OMEX stock opened at $0.47 on Friday. The business’s fifty day moving average price is $0.55 and its 200 day moving average price is $1.51. Odyssey Marine Exploration has a 12-month low of $0.30 and a 12-month high of $5.57.

Insider Buying and Selling

In related news, Director Mark B. Justh bought 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was purchased at an average cost of $0.55 per share, for a total transaction of $137,500.00. Following the completion of the acquisition, the director now owns 501,124 shares in the company, valued at approximately $275,618.20. This trade represents a 99.55 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in shares of Odyssey Marine Exploration during the second quarter worth about $372,000. Virtu Financial LLC purchased a new position in Odyssey Marine Exploration in the third quarter worth approximately $32,000. Finally, Voisard Asset Management Group Inc. grew its holdings in Odyssey Marine Exploration by 800.0% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 36,000 shares of the business services provider’s stock worth $30,000 after acquiring an additional 32,000 shares in the last quarter. Institutional investors and hedge funds own 49.96% of the company’s stock.

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.