Odyssey Marine Exploration (NASDAQ:OMEX) Hits New 52-Week Low – Time to Sell?

Shares of Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) hit a new 52-week low during trading on Friday. The company traded as low as $11.50 and last traded at $11.6710, with a volume of 324 shares. The stock had previously closed at $13.14.

Analyst Ratings Changes

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

Odyssey Marine Exploration Price Performance

The stock has a market capitalization of $716.31 million, a price-to-earnings ratio of -14.28 and a beta of 0.06. The firm has a fifty day moving average of $17.85 and a 200 day moving average of $480.31.

Odyssey Marine Exploration (NASDAQ:OMEX) last posted its earnings results on Tuesday, August 11th. The business services provider reported ($4.00) earnings per share (EPS) for the quarter. The firm had revenue of $0.08 million for 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 stake in Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) by 10.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 541,721 shares of the business services provider’s stock after acquiring an additional 53,122 shares during the period. Renaissance Technologies LLC owned 0.92% of Odyssey Marine Exploration worth $452,000 as of its most recent SEC filing. 49.96% of the stock is currently owned by hedge funds and other institutional investors.

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.