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

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

Odyssey Marine Exploration Trading Up 30.6 %

Shares of OMEX stock opened at $0.63 on Friday. Odyssey Marine Exploration has a twelve month low of $0.30 and a twelve month high of $5.57. The stock has a fifty day simple moving average of $0.45 and a two-hundred day simple moving average of $2.41.

Insider Buying and Selling at Odyssey Marine Exploration

In related news, Director Mark B. Justh bought 250,000 shares of the stock in a transaction on Tuesday, December 24th. The stock was bought at an average price of $0.55 per share, for a total transaction of $137,500.00. Following the completion of the acquisition, the director now directly owns 501,124 shares in the company, valued at approximately $275,618.20. This represents a 99.55 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Cowen AND Company LLC grew its stake in Odyssey Marine Exploration by 20.0% in the second quarter. Cowen AND Company LLC now owns 36,000 shares of the business services provider’s stock valued at $176,000 after purchasing an additional 6,000 shares during the last quarter. Voisard Asset Management Group Inc. boosted its stake in Odyssey Marine Exploration by 800.0% in the third quarter. Voisard Asset Management Group Inc. now owns 36,000 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 32,000 shares in the last quarter. Virtu Financial LLC purchased a new position in Odyssey Marine Exploration in the third quarter worth $32,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Odyssey Marine Exploration during the second quarter worth $372,000. 49.96% of the stock is owned by institutional investors.

Odyssey Marine Exploration Company Profile

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.