Odyssey Marine Exploration (NASDAQ:OMEX) Shares Pass 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) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Analyst Upgrades and Downgrades

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 4.2%

The stock has a 50 day moving average of $1.61 and a 200-day moving average of $1.09.

Odyssey Marine Exploration (NASDAQ:OMEX - Get Free Report) last announced its quarterly earnings data 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.

Insider Buying and Selling at Odyssey Marine Exploration

In other news, major shareholder Gallardo Juan Antonio Cortina sold 409,100 shares of the company's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $1.70, for a total transaction of $695,470.00. Following the sale, the insider directly owned 1,991,998 shares in the company, valued at $3,386,396.60. This represents a 17.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold 979,100 shares of company stock worth $1,673,942 in the last quarter. Corporate insiders own 8.00% of the company's stock.

Institutional Investors Weigh In On Odyssey Marine Exploration

Hedge funds and other institutional investors have recently modified their holdings of the stock. Two Sigma Investments LP bought a new stake in shares of Odyssey Marine Exploration during the fourth quarter valued at about $25,000. Voisard Asset Management Group Inc. increased its position in shares of Odyssey Marine Exploration by 59.1% during the second quarter. Voisard Asset Management Group Inc. now owns 35,000 shares of the business services provider's stock valued at $41,000 after buying an additional 13,000 shares during the period. Finally, L. Roy Papp & Associates LLP bought a new stake in shares of Odyssey Marine Exploration during the first quarter valued at about $61,000. 49.96% of the stock is currently owned by institutional investors.

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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