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

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.46 and traded as high as $2.68. Odyssey Marine Exploration shares last traded at $2.58, with a volume of 4,297,493 shares traded.

Analysts Set New Price Targets

Several research firms have issued reports on OMEX. Weiss Ratings restated a "sell (d)" rating on shares of Odyssey Marine Exploration in a research report on Wednesday, October 8th. Wall Street Zen cut Odyssey Marine Exploration from a "hold" rating to a "sell" rating in a report on Sunday, August 10th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of "Sell".

Odyssey Marine Exploration Trading Down 6.2%

The stock's fifty day moving average price is $2.15 and its 200-day moving average price is $1.46.

Odyssey Marine Exploration (NASDAQ:OMEX - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $0.14 million during the quarter.

Insider Buying and Selling at Odyssey Marine Exploration

In other news, COO John D. Longley, Jr. sold 217,072 shares of Odyssey Marine Exploration stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $3.72, for a total transaction of $807,507.84. Following the transaction, the chief operating officer owned 150,313 shares in the company, valued at approximately $559,164.36. The trade was a 59.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.00% of the company's stock.

Institutional Investors Weigh In On Odyssey Marine Exploration

An institutional investor recently raised its position in Odyssey Marine Exploration stock. Voisard Asset Management Group Inc. grew its holdings in Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Free Report) by 59.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,000 shares of the business services provider's stock after purchasing an additional 13,000 shares during the period. Voisard Asset Management Group Inc. owned about 0.11% of Odyssey Marine Exploration worth $41,000 as of its most recent SEC filing. 49.96% of the stock is owned by hedge funds and other institutional investors.

About Odyssey Marine Exploration

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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