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

Key Points

• Weiss Ratings has reissued a "Sell (D)" rating for Odyssey Marine Exploration (NASDAQ:OMEX), indicating continued bearish sentiment towards the stock.
• Odyssey Marine reported a loss of $0.48 EPS in its most recent earnings announcement, alongside a small revenue of $0.14 million for the quarter.
• COO John D. Longley, Jr. significantly reduced his stake, selling 217,072 shares, which represents a 59.09% decrease in his ownership of 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 research report issued on Saturday,Weiss Ratings reports.

Separately, Wall Street Zen cut Odyssey Marine Exploration from a "hold" rating to a "sell" rating in a report on Sunday, August 10th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of "Sell".

Odyssey Marine Exploration Stock Performance

Shares of OMEX stock opened at $2.60 on Friday. The stock's fifty day moving average is $2.19 and its 200-day moving average is $1.50. Odyssey Marine Exploration has a 52 week low of $0.27 and a 52 week high of $4.43.

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

Insider Transactions at Odyssey Marine Exploration

In related news, COO John D. Longley, Jr. sold 217,072 shares of the firm's stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $3.72, for a total value of $807,507.84. Following the transaction, the chief operating officer owned 150,313 shares in the company, valued at $559,164.36. This trade represents a 59.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Odyssey Marine Exploration

An institutional investor recently bought a new position in Odyssey Marine Exploration stock. SLT Holdings LLC purchased a new stake in Odyssey Marine Exploration, Inc. (NASDAQ:OMEX - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 277,750 shares of the business services provider's stock, valued at approximately $542,000. SLT Holdings LLC owned about 0.61% of Odyssey Marine Exploration as of its most recent SEC filing. Institutional investors and hedge funds 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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