Odyssey Marine Exploration (NASDAQ:OMEX) Posts Earnings Results

Odyssey Marine Exploration (NASDAQ:OMEX) posted its earnings results on Tuesday. The business services provider reported ($0.34) EPS for the quarter, FiscalAI reports. The firm had revenue of $0.02 million during the quarter.

Odyssey Marine Exploration Stock Performance

Odyssey Marine Exploration stock traded up $0.07 during midday trading on Tuesday, hitting $0.83. 1,340,333 shares of the company’s stock were exchanged, compared to its average volume of 995,607. Odyssey Marine Exploration has a 12-month low of $0.27 and a 12-month high of $4.43. The stock has a market cap of $46.49 million, a price-to-earnings ratio of -1.07 and a beta of -0.78. The firm’s 50 day simple moving average is $1.58 and its 200 day simple moving average is $2.00.

Institutional Investors Weigh In On Odyssey Marine Exploration

Hedge funds have recently made changes to their positions in the business. Tradewinds Capital Management LLC purchased a new position in shares of Odyssey Marine Exploration during the fourth quarter worth about $27,000. Stifel Financial Corp acquired a new stake in Odyssey Marine Exploration during the 4th quarter worth approximately $29,000. Bank of America Corp DE grew its stake in shares of Odyssey Marine Exploration by 632.8% in the 3rd quarter. Bank of America Corp DE now owns 19,111 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 16,503 shares during the last quarter. Centiva Capital LP purchased a new position in shares of Odyssey Marine Exploration in the 3rd quarter valued at approximately $57,000. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Odyssey Marine Exploration in the fourth quarter valued at approximately $59,000. Institutional investors and hedge funds own 49.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Odyssey Marine Exploration in a research note on Friday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

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.