ValuEngine Lowers Odyssey Marine Exploration, Inc. (OMEX) to Sell

ValuEngine downgraded shares of Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

Shares of Odyssey Marine Exploration (NASDAQ:OMEX) traded up 9.5222% during mid-day trading on Wednesday, reaching $4.6766. The company had a trading volume of 24,436 shares. Odyssey Marine Exploration has a 12-month low of $2.98 and a 12-month high of $5.79. The firm has a 50-day moving average of $3.85 and a 200-day moving average of $3.93. The company’s market capitalization is $39.23 million.

Odyssey Marine Exploration (NASDAQ:OMEX) last released its quarterly earnings results on Thursday, May 11th. The business services provider reported ($0.28) earnings per share (EPS) for the quarter. The company had revenue of $0.65 million for the quarter. On average, equities analysts anticipate that Odyssey Marine Exploration will post ($2.18) earnings per share for the current fiscal year.

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A hedge fund recently raised its stake in Odyssey Marine Exploration stock. ProVise Management Group LLC increased its position in Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,203 shares of the business services provider’s stock after buying an additional 600 shares during the period. ProVise Management Group LLC owned approximately 0.39% of Odyssey Marine Exploration worth $119,000 at the end of the most recent reporting period. 7.84% of the stock is owned by hedge funds and other institutional investors.

About Odyssey Marine Exploration

Odyssey Marine Exploration, Inc (Odyssey) is a deep-ocean exploration company. The Company’s techniques are applied to mineral exploration, shipwreck cargo recovery, and other marine survey and exploration charter services. The Company is engaged in discovering shipwreck sites in the deep ocean and conducting archaeological excavations with remotely operated vehicles (ROVs).

To view ValuEngine’s full report, visit ValuEngine’s official website.