Odyssey Marine Exploration (NASDAQ:OMEX) Releases Earnings Results

Odyssey Marine Exploration (NASDAQ:OMEX – Get Free Report) released its quarterly earnings data on Tuesday. The business services provider reported ($0.04) earnings per share (EPS) for the quarter, Zacks reports.

Odyssey Marine Exploration Trading Down 4.4%

NASDAQ OMEX traded down $0.05 during trading on Tuesday, hitting $1.09. The company had a trading volume of 1,295,972 shares, compared to its average volume of 4,310,789. Odyssey Marine Exploration has a one year low of $0.72 and a one year high of $4.43. The company has a market cap of $63.79 million, a price-to-earnings ratio of -0.97 and a beta of -0.24. The company’s fifty day moving average is $1.16 and its 200-day moving average is $1.71.

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Shares of Odyssey Marine Exploration are set to reverse split on the morning of 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.

Institutional Trading of Odyssey Marine Exploration

A number of hedge funds and other institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC grew its position in shares of Odyssey Marine Exploration by 73,788.1% in the 4th quarter. NewEdge Advisors LLC now owns 62,066 shares of the business services provider’s stock worth $122,000 after buying an additional 61,982 shares during the period. XTX Topco Ltd purchased a new stake in shares of Odyssey Marine Exploration in the 4th quarter worth about $196,000. Old West Investment Management LLC grew its position in shares of Odyssey Marine Exploration by 49.5% in the 4th quarter. Old West Investment Management LLC now owns 5,496,448 shares of the business services provider’s stock worth $10,773,000 after buying an additional 1,819,566 shares during the period. Mangrove Partners IM LLC purchased a new stake in shares of Odyssey Marine Exploration in the 4th quarter worth about $388,000. Finally, Stifel Financial Corp purchased a new stake in shares of Odyssey Marine Exploration in the 4th quarter worth about $29,000. 49.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Odyssey Marine Exploration in a report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Odyssey Marine Exploration currently has an average rating of “Sell”.

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About Odyssey Marine Exploration

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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.

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