Odyssey Marine Exploration (NASDAQ:OMEX) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.62 and traded as high as $1.35. Odyssey Marine Exploration shares last traded at $1.24, with a volume of 5,338,215 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen began coverage on Odyssey Marine Exploration in a report on Tuesday, April 29th. They set a “sell” rating for the company.

Odyssey Marine Exploration Price Performance

The company has a fifty day moving average price of $0.87 and a two-hundred day moving average price of $0.62.

Odyssey Marine Exploration (NASDAQ:OMEX) last posted its earnings results on Monday, May 12th. The business services provider reported $0.01 earnings per share for the quarter. Odyssey Marine Exploration had a negative return on equity of 11.51% and a net margin of 1,556.13%. The business had revenue of $0.14 million during the quarter.

Institutional Investors Weigh In On Odyssey Marine Exploration

Hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP acquired a new stake in Odyssey Marine Exploration in the fourth quarter valued at $25,000. XTX Topco Ltd raised its stake in shares of Odyssey Marine Exploration by 225.5% during the 4th quarter. XTX Topco Ltd now owns 41,778 shares of the business services provider’s stock worth $30,000 after buying an additional 28,943 shares during the last quarter. L. Roy Papp & Associates LLP acquired a new position in shares of Odyssey Marine Exploration during the 1st quarter worth $61,000. Finally, Two Seas Capital LP raised its stake in shares of Odyssey Marine Exploration by 2,449.0% during the 4th quarter. Two Seas Capital LP now owns 2,549,049 shares of the business services provider’s stock worth $1,835,000 after buying an additional 2,449,049 shares during the last quarter. 49.96% of the stock is owned by institutional investors and hedge funds.

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.