Odyssey Marine Exploration (NASDAQ:OMEX) Reaches New 12-Month Low - What's Next?

Key Points

• Odyssey Marine Exploration shares hit a new 52-week low, falling to $11.50 and last trading at $11.671, down about 7.1% from the prior close.
• Analyst sentiment remains negative: Wall Street Zen upgraded the stock from “strong sell” to “sell,” Weiss Ratings maintained a “sell (D-)” rating, and the consensus rating is “Sell.”
• The company reported a quarterly loss of $4.00 per share on just $0.08 million in revenue, while Renaissance Technologies increased its stake by 10.9%; institutional investors collectively own nearly 50% of the stock.

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Get Free Report)'s share price reached a new 52-week low during trading on Friday. The company traded as low as $11.50 and last traded at $11.6710, with a volume of 324 shares traded. The stock had previously closed at $13.14.

Wall Street Analysts Forecast Growth

OMEX has been the topic of several recent research reports. Wall Street Zen raised Odyssey Marine Exploration from a "strong sell" rating to a "sell" rating in a report on Saturday, August 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of Odyssey Marine Exploration in a research report on Monday, September 21st. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Sell".

Odyssey Marine Exploration Stock Down 7.1%

The firm's 50-day simple moving average is $17.85 and its 200-day simple moving average is $480.31. The firm has a market capitalization of $716.31 million, a P/E ratio of -14.28 and a beta of 0.06.

Odyssey Marine Exploration (NASDAQ:OMEX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The business services provider reported ($4.00) earnings per share for the quarter. The firm had revenue of $0.08 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Odyssey Marine Exploration stock. Renaissance Technologies LLC grew its holdings in shares of Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Free Report) by 10.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 541,721 shares of the business services provider's stock after purchasing an additional 53,122 shares during the period. Renaissance Technologies LLC owned approximately 0.92% of Odyssey Marine Exploration worth $452,000 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 is a deep-ocean exploration and technology company headquartered in Tampa, Florida. The company specializes in locating, researching, and developing marine mineral and other ocean-based resources, using remote-sensing systems, remotely operated vehicles, geophysical surveys, and related subsea technologies.

Historically, Odyssey became known for its work identifying and recovering valuable shipwreck cargoes, including the discovery of the shipwreck known as the SS Central America.

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