Odyssey Marine Exploration Stock Scheduled to Reverse Split on Wednesday, July 1st (NASDAQ:OMEX)

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX)’s stock is set to reverse split before the market opens on Wednesday, July 1st. The 1-25 reverse split was announced on Wednesday, April 8th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, June 30th.

Odyssey Marine Exploration Stock Performance

OMEX stock opened at $0.90 on Monday. The company’s 50 day moving average is $1.05 and its 200 day moving average is $1.55. The stock has a market cap of $52.71 million, a price-to-earnings ratio of -0.77 and a beta of -0.24. Odyssey Marine Exploration has a 1-year low of $0.74 and a 1-year high of $4.43.

Odyssey Marine Exploration (NASDAQ:OMEX) last announced its earnings results on Tuesday, May 12th. The business services provider reported ($0.04) earnings per share (EPS) for the quarter. The business had revenue of $0.02 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Odyssey Marine Exploration in a report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Hedge Funds Weigh In On Odyssey Marine Exploration

A number of large investors have recently modified their holdings of OMEX. Jefferies Financial Group Inc. purchased a new stake in Odyssey Marine Exploration in the third quarter worth approximately $780,000. Smithbridge Asset Management Inc. DE raised its stake in shares of Odyssey Marine Exploration by 200.1% during the fourth quarter. Smithbridge Asset Management Inc. DE now owns 36,010 shares of the business services provider’s stock worth $71,000 after acquiring an additional 24,010 shares in the last quarter. Centiva Capital LP purchased a new position in shares of Odyssey Marine Exploration during the third quarter worth approximately $57,000. Bank of America Corp DE raised its stake in shares of Odyssey Marine Exploration by 632.8% during the third quarter. Bank of America Corp DE now owns 19,111 shares of the business services provider’s stock worth $37,000 after acquiring an additional 16,503 shares in the last quarter. Finally, Stifel Financial Corp bought a new stake in shares of Odyssey Marine Exploration in the 4th quarter worth approximately $29,000. 49.96% of the stock is owned by hedge funds and other institutional investors.

About Odyssey Marine Exploration

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.