Odyssey Marine Exploration (NASDAQ:OMEX) COO Sells $136,419.50 in Stock

Key Points

• Odyssey Marine Exploration's COO, John Longley, Jr., sold 38,977 shares for $136,419.50, reducing his ownership by 14.83% to 223,885 shares.
• The company's stock price decreased by 9.5% to $3.73, with a trading volume of over 6.8 million shares.
• Research firms have downgraded the stock to a "sell" rating, with a consensus rating of "Sell" from analysts.

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Get Free Report) COO John Longley, Jr. sold 38,977 shares of Odyssey Marine Exploration stock in a transaction on Monday, October 13th. The shares were sold at an average price of $3.50, for a total value of $136,419.50. Following the completion of the transaction, the chief operating officer owned 223,885 shares in the company, valued at $783,597.50. This represents a 14.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Odyssey Marine Exploration Stock Down 9.5%

Shares of Odyssey Marine Exploration stock traded down $0.39 during trading on Wednesday, reaching $3.73. The company's stock had a trading volume of 6,803,588 shares, compared to its average volume of 6,954,169. Odyssey Marine Exploration, Inc. has a 1-year low of $0.27 and a 1-year high of $4.43. The company has a 50-day simple moving average of $1.99 and a two-hundred day simple moving average of $1.37.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on OMEX. Wall Street Zen lowered Odyssey Marine Exploration from a "hold" rating to a "sell" rating in a research report on Sunday, August 10th. Weiss Ratings restated a "sell (d)" rating on shares of Odyssey Marine Exploration in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Sell".

Hedge Funds Weigh In On Odyssey Marine Exploration

A hedge fund recently raised its stake in Odyssey Marine Exploration stock. Voisard Asset Management Group Inc. boosted its holdings in Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Free Report) by 20.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,300 shares of the business services provider's stock after buying an additional 7,300 shares during the quarter. Voisard Asset Management Group Inc. owned approximately 0.09% of Odyssey Marine Exploration worth $82,000 at the end of the most recent quarter. Institutional investors and hedge funds own 49.96% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.