Odyssey Marine Exploration Shares Set to Reverse Split on Thursday, October 29th (NASDAQ:OMEX)

Shares of Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) are going to reverse split before the market opens on Thursday, October 29th. The 1-25 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, October 28th.

Odyssey Marine Exploration Stock Performance

Shares of OMEX stock opened at $0.58 on Wednesday. The company’s 50 day moving average price is $0.76 and its two-hundred day moving average price is $11.51. Odyssey Marine Exploration has a 52 week low of $0.56 and a 52 week high of $3.28.

Odyssey Marine Exploration (NASDAQ:OMEX) last announced its quarterly earnings results on Tuesday, August 11th. The business services provider reported ($0.16) earnings per share for the quarter. The business had revenue of $0.08 million for the quarter.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OMEX. Weiss Ratings restated a “sell (d-)” rating on shares of Odyssey Marine Exploration in a report on Monday, September 21st. Wall Street Zen raised shares of Odyssey Marine Exploration from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Odyssey Marine Exploration stock. Renaissance Technologies LLC boosted its position in Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) by 10.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 541,721 shares of the business services provider’s stock after buying an additional 53,122 shares during the quarter. Renaissance Technologies LLC owned approximately 0.92% of Odyssey Marine Exploration worth $452,000 as of its most recent filing with the SEC. 49.96% of the stock is currently owned by institutional investors and hedge funds.

About Odyssey Marine Exploration

Odyssey Marine Exploration, Inc is a deep-ocean exploration company that specializes in locating, assessing, and developing subsea resources. Its activities include marine archaeology, shipwreck exploration, underwater surveying, and the recovery of historically and commercially significant materials from the seafloor.

The company uses remotely operated vehicles, geophysical survey systems, advanced mapping technologies, and other specialized marine equipment to investigate deep-water sites.