Odyssey Marine Exploration (NASDAQ:OMEX) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Odyssey Marine Exploration from “strong sell” to “sell,” while Weiss Ratings maintained a “sell (D-)” rating. MarketBeat data shows the stock has an average consensus rating of “Sell.”
• OMEX opened at $0.90, with a market capitalization of approximately $52.9 million and a 12-month trading range of $0.58 to $4.43. The company reported a quarterly loss of $0.16 per share on revenue of $0.08 million.
• Institutional investors increased their holdings, including Old West Investment Management, Two Seas Capital, and Jefferies Financial Group. Hedge funds and other institutional investors collectively own about 49.96% of the company.

Odyssey Marine Exploration (NASDAQ:OMEX - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Odyssey Marine Exploration in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Odyssey Marine Exploration has an average rating of "Sell".

Odyssey Marine Exploration Trading Down 1.0%

NASDAQ:OMEX opened at $0.90 on Friday. The company has a market capitalization of $52.87 million, a P/E ratio of -1.06 and a beta of -0.15. Odyssey Marine Exploration has a 12 month low of $0.58 and a 12 month high of $4.43. The firm has a fifty day simple moving average of $8.10 and a 200-day simple moving average of $23.96.

Odyssey Marine Exploration (NASDAQ:OMEX - Get Free Report) last released its earnings results on Tuesday, August 11th. The business services provider reported ($0.16) earnings per share (EPS) for the quarter. The company had revenue of $0.08 million during the quarter.

Hedge Funds Weigh In On Odyssey Marine Exploration

Institutional investors have recently made changes to their positions in the company. Old West Investment Management LLC boosted its holdings in Odyssey Marine Exploration by 49.5% during the fourth quarter. Old West Investment Management LLC now owns 5,496,448 shares of the business services provider's stock worth $10,773,000 after buying an additional 1,819,566 shares in the last quarter. Two Seas Capital LP raised its position in shares of Odyssey Marine Exploration by 13.5% in the fourth quarter. Two Seas Capital LP now owns 5,185,029 shares of the business services provider's stock worth $10,163,000 after acquiring an additional 615,018 shares during the period. Jefferies Financial Group Inc. boosted its stake in shares of Odyssey Marine Exploration by 275.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,500,000 shares of the business services provider's stock worth $2,940,000 after acquiring an additional 1,100,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Odyssey Marine Exploration by 37.3% during the 4th quarter. Geode Capital Management LLC now owns 559,991 shares of the business services provider's stock worth $1,098,000 after acquiring an additional 152,071 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Odyssey Marine Exploration by 10.9% during the 1st quarter. Renaissance Technologies LLC now owns 541,721 shares of the business services provider's stock worth $452,000 after acquiring an additional 53,122 shares in the last quarter. 49.96% of the stock is owned by hedge funds and other institutional investors.

Odyssey Marine Exploration Company Profile

Odyssey Marine Exploration, Inc NASDAQ: OMEX is a marine technology and deep-ocean exploration company specializing in the location, recovery, and preservation of underwater cultural heritage. The company employs advanced remotely operated vehicles (ROVs) and proprietary seabed mapping systems to carry out high-precision surveys and recovery operations at depths exceeding 6,000 meters. Odyssey Marine's mission centers on responsible stewardship of historic shipwrecks, valuable cargoes, and other submerged assets, combining maritime archaeology with commercially oriented salvage projects.

In addition to treasure recovery, Odyssey Marine offers a range of subsea services to support government, commercial, and scientific clients worldwide.

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