Weiss Ratings Reaffirms Sell (D) Rating for Odyssey Marine Exploration (NASDAQ:OMEX)

Key Points

• Weiss Ratings has reaffirmed a "sell (d)" rating for Odyssey Marine Exploration (NASDAQ:OMEX), indicating ongoing negative sentiment toward the stock.
• Odyssey Marine Exploration's recent financial results report a loss of ($0.48) EPS and revenue of only $0.14 million for the quarter.
• Major shareholder Gallardo Juan Antonio Cortina sold 473,591 shares, decreasing their position by 16.47%, drawing attention to insider activity in the company.

Odyssey Marine Exploration (NASDAQ:OMEX - Get Free Report)'s stock had its "sell (d)" rating reissued by research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen lowered shares of 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, Based on data from MarketBeat.com, the stock has an average rating of "Sell".

Odyssey Marine Exploration Stock Up 1.7%

Odyssey Marine Exploration stock opened at $2.97 on Wednesday. The firm's 50 day simple moving average is $1.79 and its 200 day simple moving average is $1.26. Odyssey Marine Exploration has a 1-year low of $0.27 and a 1-year high of $3.08.

Odyssey Marine Exploration (NASDAQ:OMEX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 19th. The business services provider reported ($0.48) EPS for the quarter. The company had revenue of $0.14 million during the quarter. Odyssey Marine Exploration had a negative return on equity of 14.85% and a net margin of 174.35%.

Insider Activity at Odyssey Marine Exploration

In related news, major shareholder Gallardo Juan Antonio Cortina sold 473,591 shares of the stock in a transaction 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 transaction, the insider owned 2,401,098 shares of the company's stock, valued at approximately $4,129,888.56. This trade represents a 16.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 979,100 shares of company stock worth $1,673,942. 8.00% of the stock is currently owned by company insiders.

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. raised its position in shares of Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Free Report) by 59.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,000 shares of the business services provider's stock after buying an additional 13,000 shares during the period. Voisard Asset Management Group Inc. owned about 0.11% of Odyssey Marine Exploration worth $41,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 49.96% of the company's stock.

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.

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