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

Key Points

• Odyssey Marine Exploration shares crossed above their 200-day moving average, reaching a high of $1.80 before last trading at $1.75.
• Wall Street Zen has downgraded Odyssey Marine Exploration from a "hold" rating to a "sell" rating as of August 10th.
• The company reported a quarterly loss with an earnings per share (EPS) of ($0.48) and revenue of only $0.14 million.

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.09 and traded as high as $1.80. Odyssey Marine Exploration shares last traded at $1.75, with a volume of 1,819,887 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Odyssey Marine Exploration from a "hold" rating to a "sell" rating in a research note on Sunday, August 10th.

Odyssey Marine Exploration Stock Up 7.7%

The company's 50 day moving average is $1.63 and its 200 day moving average is $1.12.

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

Insider Buying and Selling

In other Odyssey Marine Exploration news, major shareholder Gallardo Juan Antonio Cortina sold 473,591 shares of Odyssey Marine Exploration stock in a transaction on Friday, July 18th. The stock was sold at an average price of $1.72, for a total transaction of $814,576.52. Following the completion of the sale, the insider directly owned 2,401,098 shares of the company's stock, valued at $4,129,888.56. The trade was a 16.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 979,100 shares of company stock worth $1,673,942. Company insiders own 7.10% of the company's stock.

Hedge Funds Weigh In On Odyssey Marine Exploration

Institutional investors have recently made changes to their positions in the company. Two Sigma Investments LP purchased a new stake in Odyssey Marine Exploration in the fourth quarter worth about $25,000. L. Roy Papp & Associates LLP purchased a new position in Odyssey Marine Exploration during the 1st quarter valued at about $61,000. Finally, Voisard Asset Management Group Inc. raised its holdings in shares of 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 valued at $41,000 after purchasing an additional 13,000 shares in the last 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.