Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) Short Interest Update

Key Points

• Odyssey Marine Exploration experienced a 21.1% increase in short interest in August, raising the total to 3,500,000 shares, which represents 8.4% of the company's total shares.
• Major shareholder Juan Antonio Cortina sold 473,591 shares at $1.72 each, reducing his stake by 16.47%, while insiders have collectively sold 979,100 shares over the last 90 days.
• Odyssey Marine Exploration's stock rose 4.2% during midday trading, reaching $1.75, with a trading volume of 1,819,887 shares on Thursday.

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Get Free Report) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 3,500,000 shares, a growth of 21.1% from the August 15th total of 2,890,000 shares. Based on an average trading volume of 2,730,000 shares, the short-interest ratio is presently 1.3 days. Currently, 8.4% of the company's shares are sold short. Currently, 8.4% of the company's shares are sold short. Based on an average trading volume of 2,730,000 shares, the short-interest ratio is presently 1.3 days.

Odyssey Marine Exploration Trading Up 7.4%

OMEX traded up $0.14 during trading on Monday, hitting $1.96. The company had a trading volume of 1,634,139 shares, compared to its average volume of 7,216,393. Odyssey Marine Exploration has a one year low of $0.27 and a one year high of $2.25. The firm's 50-day moving average price is $1.62 and its 200 day moving average price is $1.11.

Odyssey Marine Exploration (NASDAQ:OMEX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 19th. The business services provider reported ($0.48) EPS for the quarter. The company had revenue of $0.14 million during the quarter. Odyssey Marine Exploration had a net margin of 174.35% and a negative return on equity of 14.85%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Odyssey Marine Exploration from a "hold" rating to a "sell" rating in a report on Sunday, August 10th.

Insider Buying and Selling

In other Odyssey Marine Exploration news, major shareholder Gallardo Juan Antonio Cortina sold 409,100 shares of Odyssey Marine Exploration stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $1.70, for a total transaction of $695,470.00. Following the completion of the sale, the insider owned 1,991,998 shares of the company's stock, valued at approximately $3,386,396.60. The trade was a 17.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 979,100 shares of company stock worth $1,673,942. 7.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Odyssey Marine Exploration

Several large investors have recently modified their holdings of the company. Two Sigma Investments LP bought a new stake in Odyssey Marine Exploration in the fourth quarter valued at $25,000. Two Seas Capital LP raised its holdings in Odyssey Marine Exploration by 2,449.0% in the 4th quarter. Two Seas Capital LP now owns 2,549,049 shares of the business services provider's stock worth $1,835,000 after purchasing an additional 2,449,049 shares in the last quarter. L. Roy Papp & Associates LLP bought a new position in Odyssey Marine Exploration in the 1st quarter worth $61,000. Finally, Voisard Asset Management Group Inc. raised its holdings in Odyssey Marine Exploration by 59.1% in the 2nd quarter. Voisard Asset Management Group Inc. now owns 35,000 shares of the business services provider's stock worth $41,000 after purchasing an additional 13,000 shares in the last quarter. 49.96% of the stock is currently owned by institutional investors and hedge funds.

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.