Odyssey Marine Exploration (NASDAQ:OMEX) Issues Quarterly Earnings Results

Odyssey Marine Exploration (NASDAQ:OMEX) announced its quarterly earnings results on Monday. The business services provider reported ($1.98) EPS for the quarter, FiscalAI reports. The firm had revenue of $0.11 million during the quarter.

Odyssey Marine Exploration Trading Up 2.5%

OMEX traded up $0.28 during trading hours on Wednesday, hitting $11.48. 3,123 shares of the company’s stock were exchanged, compared to its average volume of 84,195. The firm has a market cap of $26.99 million, a P/E ratio of -0.54 and a beta of 0.17. Odyssey Marine Exploration has a 12-month low of $9.59 and a 12-month high of $66.75. The firm has a 50 day moving average of $17.19 and a 200 day moving average of $460.27.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Odyssey Marine Exploration in a research note on Monday, September 21st. Wall Street Zen upgraded shares of Odyssey Marine Exploration from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, Odyssey Marine Exploration currently has a consensus rating of “Sell”.

Institutional Trading of Odyssey Marine Exploration

An institutional investor recently raised its stake 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 & Exchange Commission. The institutional investor 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 about 0.92% of Odyssey Marine Exploration worth $452,000 as of its most recent SEC filing. Institutional investors and hedge funds own 49.96% of the company’s stock.

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.