Odyssey Marine Exploration (NASDAQ:OMEX) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.04 and traded as high as $2.25. Odyssey Marine Exploration shares last traded at $2.10, with a volume of 1,703,649 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Odyssey Marine Exploration in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Odyssey Marine Exploration Stock Performance

The company has a market cap of $117.05 million, a P/E ratio of -2.69 and a beta of -0.86. The business has a fifty day simple moving average of $2.13 and a 200 day simple moving average of $2.04.

Odyssey Marine Exploration (NASDAQ:OMEX) last posted its quarterly earnings results on Wednesday, November 12th. The business services provider reported ($0.31) earnings per share (EPS) for the quarter. The company had revenue of $0.06 million during the quarter.

Institutional Investors Weigh In On Odyssey Marine Exploration

A number of institutional investors have recently modified their holdings of OMEX. Old West Investment Management LLC bought a new position in Odyssey Marine Exploration in the third quarter worth about $7,170,000. Two Seas Capital LP grew its holdings in shares of Odyssey Marine Exploration by 219.4% during the third quarter. Two Seas Capital LP now owns 4,570,011 shares of the business services provider’s stock valued at $8,912,000 after purchasing an additional 3,139,242 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Odyssey Marine Exploration during the third quarter valued at approximately $780,000. Foundations Investment Advisors LLC acquired a new stake in shares of Odyssey Marine Exploration during the 3rd quarter worth approximately $542,000. Finally, SLT Holdings LLC bought a new stake in shares of Odyssey Marine Exploration in the 3rd quarter worth approximately $542,000. Institutional investors own 49.96% of the company’s stock.

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.