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

Key Points

• Odyssey Marine Exploration's shares have crossed above the 200-day moving average, trading up to a high of $2.25 before settling at $1.96, indicating a potential shift in market momentum.
• Analyst ratings have been downgraded from a "hold" to a "sell," which may impact investor sentiment moving forward.
• Insiders have sold over 979,100 shares worth approximately $1.67 million in the last three months, reducing their overall ownership in the company.

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.97 and traded as high as $2.25. Odyssey Marine Exploration shares last traded at $1.96, with a volume of 4,749,156 shares.

Wall Street Analyst Weigh In

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

Odyssey Marine Exploration Trading Down 6.5%

The firm's fifty day moving average price is $1.51 and its two-hundred day moving average price is $1.01.

Odyssey Marine Exploration (NASDAQ:OMEX - Get Free Report) last released its quarterly earnings data on Tuesday, August 19th. The business services provider reported ($0.48) earnings per share for the quarter. Odyssey Marine Exploration had a net margin of 174.35% and a negative return on equity of 14.85%. The company had revenue of $0.14 million for 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 business's stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 979,100 shares of company stock worth $1,673,942 over the last three months. 8.00% of the stock is owned by insiders.

Institutional Trading of Odyssey Marine Exploration

Large investors have recently added to or reduced their stakes in the business. Voisard Asset Management Group Inc. grew its position in 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. Two Sigma Investments LP bought a new stake in Odyssey Marine Exploration during the fourth quarter valued at approximately $25,000. L. Roy Papp & Associates LLP bought a new stake in Odyssey Marine Exploration during the first quarter valued at approximately $61,000. Finally, Two Seas Capital LP grew its position in Odyssey Marine Exploration by 2,449.0% during the fourth quarter. Two Seas Capital LP now owns 2,549,049 shares of the business services provider's stock valued at $1,835,000 after buying an additional 2,449,049 shares during the period. 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.