Odyssey Marine Exploration (NASDAQ:OMEX) Shares Gap Down – Time to Sell?

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX)’s stock price gapped down prior to trading on Thursday. The stock had previously closed at $13.55, but opened at $12.26. Odyssey Marine Exploration shares last traded at $13.4370, with a volume of 3,517 shares trading hands.

Analysts Set New Price Targets

OMEX has been the subject of a number of analyst reports. Wall Street Zen raised Odyssey Marine Exploration from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Odyssey Marine Exploration in a research report on Monday, September 21st. One research analyst has rated the stock with a Sell rating. According to MarketBeat, Odyssey Marine Exploration currently has a consensus rating of “Sell”.

Odyssey Marine Exploration Stock Performance

The company has a 50-day simple moving average of $17.64 and a 200-day simple moving average of $473.65. The stock has a market cap of $26.53 million, a P/E ratio of -0.53 and a beta of 0.06.

Odyssey Marine Exploration (NASDAQ:OMEX) last announced its earnings results on Tuesday, August 11th. The business services provider reported ($4.00) EPS for the quarter. The firm had revenue of $0.08 million during the quarter.

Institutional Trading of Odyssey Marine Exploration

A hedge fund recently raised its position in Odyssey Marine Exploration stock. Renaissance Technologies LLC boosted its position in shares of Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) by 10.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 541,721 shares of the business services provider’s stock after purchasing an additional 53,122 shares during the quarter. Renaissance Technologies LLC owned about 0.92% of Odyssey Marine Exploration worth $452,000 as of its most recent filing with the Securities and Exchange Commission. 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 and technology company headquartered in Tampa, Florida. The company specializes in locating, researching, and developing marine mineral and other ocean-based resources, using remote-sensing systems, remotely operated vehicles, geophysical surveys, and related subsea technologies.

Historically, Odyssey became known for its work identifying and recovering valuable shipwreck cargoes, including the discovery of the shipwreck known as the SS Central America.