StockNews.com Initiates Coverage on Odyssey Marine Exploration (NASDAQ:OMEX)

Investment analysts at StockNews.com started coverage on shares of Odyssey Marine Exploration (NASDAQ:OMEX) in a research report issued on Wednesday. The firm set a “sell” rating on the business services provider’s stock.

Odyssey Marine Exploration Stock Performance

OMEX stock opened at $0.46 on Wednesday. The stock’s fifty day simple moving average is $0.54 and its 200-day simple moving average is $2.91. Odyssey Marine Exploration has a 52-week low of $0.30 and a 52-week high of $5.57.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OMEX. Vanguard Group Inc. lifted its stake in shares of Odyssey Marine Exploration by 39.1% in the first quarter. Vanguard Group Inc. now owns 836,505 shares of the business services provider’s stock worth $3,187,000 after acquiring an additional 235,334 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Odyssey Marine Exploration in the second quarter valued at about $372,000. Virtu Financial LLC bought a new stake in Odyssey Marine Exploration in the third quarter valued at about $32,000. Voisard Asset Management Group Inc. increased its holdings in Odyssey Marine Exploration by 800.0% in the third quarter. Voisard Asset Management Group Inc. now owns 36,000 shares of the business services provider’s stock valued at $30,000 after buying an additional 32,000 shares during the last quarter. Finally, Cowen AND Company LLC increased its holdings in Odyssey Marine Exploration by 20.0% in the second quarter. Cowen AND Company LLC now owns 36,000 shares of the business services provider’s stock valued at $176,000 after buying an additional 6,000 shares during the last quarter. Institutional investors and hedge funds own 49.96% of the company’s stock.

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.