Odyssey Marine Exploration (NASDAQ:OMEX) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Odyssey Marine Exploration's stock price has crossed above its 200-day moving average of $1.24, trading as high as $2.82 before settling at $2.66.
• Wall Street analysts maintain a generally negative outlook, with an average rating of "Sell" for the company, as Weiss Ratings and Wall Street Zen have both downgraded their ratings recently.
• Insider selling has been significant, with major shareholder Gallardo Juan Antonio Cortina disposing of 473,591 shares, reflecting a 16.47% decrease in their holdings.

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.24 and traded as high as $2.82. Odyssey Marine Exploration shares last traded at $2.66, with a volume of 8,601,219 shares.

Wall Street Analysts Forecast Growth

Several analysts have commented on OMEX shares. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Odyssey Marine Exploration in a research note on Saturday, September 27th. Wall Street Zen cut Odyssey Marine Exploration from a "hold" rating to a "sell" rating in a research note on Sunday, August 10th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of "Sell".

Odyssey Marine Exploration Stock Performance

The company has a 50-day simple moving average of $1.73 and a 200-day simple moving average of $1.24.

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

Insider Buying and Selling at Odyssey Marine Exploration

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 value of $814,576.52. Following the completion of the transaction, the insider owned 2,401,098 shares in the company, valued at $4,129,888.56. This trade represents a 16.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 979,100 shares of company stock worth $1,673,942. Corporate insiders own 7.10% of the company's stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Odyssey Marine Exploration stock. Two Sigma Investments LP purchased a new stake in shares of Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 35,122 shares of the business services provider's stock, valued at approximately $25,000. Two Sigma Investments LP owned 0.16% of Odyssey Marine Exploration at the end of the most recent quarter. Hedge funds and other institutional investors 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.

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