Odyssey Marine Exploration Target of Unusually Large Options Trading (NASDAQ:OMEX)

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) saw some unusual options trading activity on Wednesday. Investors purchased 3,366 call options on the stock. This is an increase of 231% compared to the typical daily volume of 1,018 call options.

Odyssey Marine Exploration Stock Up 81.0%

Shares of Odyssey Marine Exploration stock traded up $0.67 on Wednesday, hitting $1.51. 180,424,060 shares of the company traded hands, compared to its average volume of 3,211,828. The company has a 50-day moving average price of $1.44 and a 200 day moving average price of $1.97. Odyssey Marine Exploration has a 12-month low of $0.28 and a 12-month high of $4.43. The company has a market cap of $87.62 million, a PE ratio of -1.37 and a beta of -0.49.

Odyssey Marine Exploration (NASDAQ:OMEX) last posted its quarterly earnings results on Tuesday, March 31st. The business services provider reported ($0.34) EPS for the quarter. The firm had revenue of $0.02 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Odyssey Marine Exploration in a research note on Friday, March 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Odyssey Marine Exploration has a consensus rating of “Sell”.

Hedge Funds Weigh In On Odyssey Marine Exploration

Several institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC grew its holdings in shares of Odyssey Marine Exploration by 73,788.1% during the 4th quarter. NewEdge Advisors LLC now owns 62,066 shares of the business services provider’s stock valued at $122,000 after acquiring an additional 61,982 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Odyssey Marine Exploration during the 4th quarter valued at $196,000. Old West Investment Management LLC grew its holdings in shares of Odyssey Marine Exploration by 49.5% during 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 acquiring an additional 1,819,566 shares in the last quarter. Mangrove Partners IM LLC acquired a new stake in shares of Odyssey Marine Exploration in the 4th quarter valued at $388,000. Finally, Stifel Financial Corp acquired a new stake in shares of Odyssey Marine Exploration in the 4th quarter valued at $29,000. 49.96% of the stock is currently owned by hedge funds and other institutional investors.

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.