Odyssey Marine Exploration (NASDAQ:OMEX) Releases Earnings Results

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

Odyssey Marine Exploration Price Performance

OMEX traded down $20.41 during trading on Wednesday, hitting $0.85. 205,696 shares of the stock traded hands, compared to its average volume of 133,806. The business has a 50 day moving average price of $1.02 and a 200 day moving average price of $1.45. Odyssey Marine Exploration has a twelve month low of $0.83 and a twelve month high of $110.75. The company has a market cap of $49.61 million, a price-to-earnings ratio of -0.72 and a beta of -0.24.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Odyssey Marine Exploration in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Odyssey Marine Exploration presently has an average rating of “Sell”.

Institutional Investors Weigh In On Odyssey Marine Exploration

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Stifel Financial Corp bought a new position in Odyssey Marine Exploration in the 4th quarter valued at approximately $29,000. Bank of America Corp DE lifted its holdings in Odyssey Marine Exploration by 632.8% in the third quarter. Bank of America Corp DE now owns 19,111 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 16,503 shares during the period. Centiva Capital LP purchased a new position in shares of Odyssey Marine Exploration in the third quarter valued at approximately $57,000. Smithbridge Asset Management Inc. DE increased its stake in 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 during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Odyssey Marine Exploration by 73,788.1% during the fourth quarter. NewEdge Advisors LLC now owns 62,066 shares of the business services provider’s stock worth $122,000 after acquiring an additional 61,982 shares during the period. Institutional investors own 49.96% of the company’s stock.

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.