Odyssey Marine Exploration (NASDAQ:OMEX) Share Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Odyssey Marine Exploration's share price crossed above its 200-day moving average, trading as high as $4.43, although it last traded at $4.12.
• The stock has received several negative ratings, with a consensus rating of "Sell" from analysts, including a downgrade from Wall Street Zen.
• Major insider activity includes a significant sale of 409,100 shares by a major shareholder, reducing their stake by over 17%.

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.35 and traded as high as $4.43. Odyssey Marine Exploration shares last traded at $4.12, with a volume of 9,213,290 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wall Street Zen cut shares of Odyssey Marine Exploration from a "hold" rating to a "sell" rating in a research note 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 investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Sell".

Odyssey Marine Exploration Stock Up 18.1%

The firm's 50 day simple moving average is $1.94 and its 200 day simple moving average is $1.35.

Odyssey Marine Exploration (NASDAQ:OMEX - Get Free Report) last announced its quarterly earnings results 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 negative return on equity of 14.85% and a net margin of 174.35%.

Insider Buying and Selling

In other news, major shareholder Gallardo Juan Antonio Cortina sold 409,100 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $1.70, for a total value of $695,470.00. Following the sale, the insider directly owned 1,991,998 shares in the company, valued at $3,386,396.60. The trade was a 17.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 979,100 shares of company stock valued at $1,673,942. 7.10% of the stock is owned by insiders.

Institutional Trading of Odyssey Marine Exploration

An institutional investor recently raised its position in Odyssey Marine Exploration stock. Voisard Asset Management Group Inc. lifted its holdings in Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Free Report) by 59.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,000 shares of the business services provider's stock after buying an additional 13,000 shares during the period. Voisard Asset Management Group Inc. owned about 0.11% of Odyssey Marine Exploration worth $41,000 at the end of the most recent reporting period. 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.

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