Stock Traders Purchase Large Volume of Call Options on Odyssey Marine Exploration (NASDAQ:OMEX)

Key Points

• Odyssey Marine Exploration experienced a surge in call options trading, with 9,380 call options purchased, marking a 215% increase from its average daily volume.
• The company's stock rose by 9.8% to reach $2.92, with notable trading volume surpassing its average.
• Wall Street analysts maintain a cautious outlook, with a consensus rating of "Sell" for Odyssey Marine Exploration, despite some institutional interest.

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Get Free Report) was the target of unusually large options trading on Tuesday. Investors bought 9,380 call options on the company. This is an increase of 215% compared to the average daily volume of 2,979 call options.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OMEX. Weiss Ratings restated a "sell (d)" rating on shares of Odyssey Marine Exploration in a report on Saturday, September 27th. Wall Street Zen cut Odyssey Marine Exploration from a "hold" rating to a "sell" rating in a research note on Sunday, August 10th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Odyssey Marine Exploration currently has an average rating of "Sell".

Odyssey Marine Exploration Stock Up 9.8%

Odyssey Marine Exploration stock traded up $0.26 during mid-day trading on Tuesday, reaching $2.92. The company's stock had a trading volume of 7,582,809 shares, compared to its average volume of 6,988,484. The business's 50 day simple moving average is $1.73 and its 200 day simple moving average is $1.24. Odyssey Marine Exploration has a 12 month low of $0.27 and a 12 month high of $3.06.

Odyssey Marine Exploration (NASDAQ:OMEX - Get Free Report) last released its earnings results 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 company had revenue of $0.14 million during the quarter.

Insider Buying and Selling

In other Odyssey Marine Exploration news, major shareholder Gallardo Juan Antonio Cortina sold 409,100 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $1.70, for a total value of $695,470.00. Following the transaction, the insider owned 1,991,998 shares of the company's stock, valued at approximately $3,386,396.60. This represents a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 979,100 shares of company stock valued at $1,673,942 in the last ninety days. Corporate insiders own 7.10% of the company's stock.

Institutional Trading of Odyssey Marine Exploration

A hedge fund recently raised its stake in Odyssey Marine Exploration stock. Voisard Asset Management Group Inc. boosted its holdings in Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Free Report) by 59.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,000 shares of the business services provider's stock after acquiring an additional 13,000 shares during the period. Voisard Asset Management Group Inc. owned 0.11% of Odyssey Marine Exploration worth $41,000 as of its most recent filing with the Securities and Exchange Commission. 49.96% of the stock is owned by 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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