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

Odyssey Marine Exploration (NASDAQ:OMEX) issued its quarterly earnings results on Tuesday. The business services provider reported ($0.16) earnings per share for the quarter, FiscalAI reports. The company had revenue of $0.08 million for the quarter.

Odyssey Marine Exploration Stock Up 5.5%

Odyssey Marine Exploration stock traded up $0.05 during midday trading on Thursday, hitting $0.90. 115,076 shares of the stock were exchanged, compared to its average volume of 2,761,121. The stock has a market capitalization of $52.54 million, a PE ratio of -1.05 and a beta of -0.15. The company has a fifty day simple moving average of $9.10 and a two-hundred day simple moving average of $24.52. Odyssey Marine Exploration has a 52 week low of $0.58 and a 52 week high of $4.43.

Hedge Funds Weigh In On Odyssey Marine Exploration

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its holdings in Odyssey Marine Exploration by 10.9% during the first quarter. Renaissance Technologies LLC now owns 541,721 shares of the business services provider’s stock worth $452,000 after acquiring an additional 53,122 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Odyssey Marine Exploration by 73,788.1% during the fourth quarter. NewEdge Advisors LLC now owns 62,066 shares of the business services provider’s stock worth $122,000 after purchasing an additional 61,982 shares during the period. XTX Topco Ltd bought a new position in shares of Odyssey Marine Exploration during the 4th quarter valued at about $196,000. Old West Investment Management LLC grew its position in shares of Odyssey Marine Exploration by 49.5% in the 4th quarter. Old West Investment Management LLC now owns 5,496,448 shares of the business services provider’s stock valued at $10,773,000 after purchasing an additional 1,819,566 shares during the period. Finally, Mangrove Partners IM LLC acquired a new position in shares of Odyssey Marine Exploration in the 4th quarter valued at approximately $388,000. 49.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Odyssey Marine Exploration in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently 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.