Odyssey Marine Exploration (NASDAQ:OMEX) Cut to Sell at Wall Street Zen

Key Points

• Odyssey Marine Exploration (NASDAQ:OMEX) has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen.
• The company's shares opened at $1.66, with a 1-year low of $0.27 and a high of $5.25.
• Odyssey Marine Exploration reported a revenue of $0.14 million and a net margin of 2,054.49% in its last quarterly earnings.

Wall Street Zen lowered shares of Odyssey Marine Exploration (NASDAQ:OMEX - Free Report) from a hold rating to a sell rating in a research report sent to investors on Sunday.

Odyssey Marine Exploration Stock Performance

NASDAQ:OMEX traded down $0.12 during trading hours on Friday, hitting $1.54. The company's stock had a trading volume of 723,887 shares, compared to its average volume of 8,018,305. The stock has a fifty day moving average of $1.35 and a 200-day moving average of $0.88. Odyssey Marine Exploration has a 52-week low of $0.27 and a 52-week high of $5.25.

Odyssey Marine Exploration (NASDAQ:OMEX - Get Free Report) last posted its earnings results on Monday, May 12th. The business services provider reported $0.01 EPS for the quarter. The firm had revenue of $0.14 million for the quarter. Odyssey Marine Exploration had a negative return on equity of 14.85% and a net margin of 2,054.49%.

Insider Activity

In other news, major shareholder Gallardo Juan Antonio Cortina sold 473,591 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $1.72, for a total transaction of $814,576.52. Following the completion of the sale, the insider owned 2,401,098 shares in the company, valued at approximately $4,129,888.56. This represents a 16.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 979,100 shares of company stock worth $1,673,942 over the last 90 days. Company insiders own 8.00% of the company's stock.

Institutional Investors Weigh In On Odyssey Marine Exploration

Hedge funds have recently made changes to their positions in the business. Voisard Asset Management Group Inc. lifted its position in shares of Odyssey Marine Exploration by 59.1% during the 2nd quarter. Voisard Asset Management Group Inc. now owns 35,000 shares of the business services provider's stock valued at $41,000 after acquiring an additional 13,000 shares during the period. Two Sigma Investments LP purchased a new position in shares of Odyssey Marine Exploration during the 4th quarter worth approximately $25,000. XTX Topco Ltd increased its stake in shares of Odyssey Marine Exploration by 225.5% during the 4th quarter. XTX Topco Ltd now owns 41,778 shares of the business services provider's stock worth $30,000 after purchasing an additional 28,943 shares in the last quarter. L. Roy Papp & Associates LLP purchased a new position in shares of Odyssey Marine Exploration during the 1st quarter worth approximately $61,000. Finally, Two Seas Capital LP increased its stake in shares of Odyssey Marine Exploration by 2,449.0% during 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. 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.