Odyssey Marine Exploration (NASDAQ:OMEX) Releases Quarterly Earnings Results

Odyssey Marine Exploration (NASDAQ:OMEX) posted its earnings results on Wednesday. The business services provider reported ($0.31) earnings per share (EPS) for the quarter, Zacks reports. Odyssey Marine Exploration had a net margin of 174.35% and a negative return on equity of 14.85%.

Odyssey Marine Exploration Trading Up 4.4%

Shares of OMEX opened at $2.13 on Thursday. The stock has a 50 day simple moving average of $2.30 and a 200-day simple moving average of $1.66. The stock has a market cap of $96.26 million, a PE ratio of -6.26 and a beta of -0.85. Odyssey Marine Exploration has a 1 year low of $0.27 and a 1 year high of $4.43.

Analysts Set New Price Targets

A number of equities analysts have recently commented on OMEX shares. Wall Street Zen lowered Odyssey Marine Exploration from a “hold” rating to a “sell” rating in a research note on Sunday, August 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of Odyssey Marine Exploration in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Odyssey Marine Exploration has a consensus rating of “Sell”.

Insider Activity at Odyssey Marine Exploration

In other news, COO John D. Longley, Jr. sold 217,072 shares of the company’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $3.72, for a total value of $807,507.84. Following the sale, the chief operating officer owned 150,313 shares of the company’s stock, valued at approximately $559,164.36. This represents a 59.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.00% of the company’s stock.

Odyssey Marine Exploration Company Profile

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.