Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) Shares Shorted: Short Interest Down 95.9% in October

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) saw a significant drop in short interest in the month of October. As of October 30th, there was short interest totaling 195,353 shares, a drop of 95.9% from the October 15th total of 4,766,804 shares. Based on an average daily volume of 25,360 shares, the days-to-cover ratio is presently 7.7 days. Currently, 8.8% of the shares of the company are short sold.

Odyssey Marine Exploration Stock Down 1.6%

Shares of OMEX opened at $10.57 on Wednesday. The firm has a market capitalization of $24.85 million, a PE ratio of -0.68 and a beta of 0.17. The firm has a 50-day moving average price of $16.08 and a 200 day moving average price of $426.57. Odyssey Marine Exploration has a 52-week low of $9.59 and a 52-week high of $66.75.

Odyssey Marine Exploration (NASDAQ:OMEX) last issued its quarterly earnings results on Monday, November 2nd. The business services provider reported ($1.98) earnings per share for the quarter. The firm had revenue of $0.11 million for the quarter.

Institutional Investors Weigh In On Odyssey Marine Exploration

An institutional investor recently raised its stake in Odyssey Marine Exploration stock. Renaissance Technologies LLC raised its position in shares of Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) by 10.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 541,721 shares of the business services provider’s stock after purchasing an additional 53,122 shares during the quarter. 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Odyssey Marine Exploration from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Odyssey Marine Exploration in a report on Monday, September 21st. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Odyssey Marine Exploration presently has an average rating of “Sell”.

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.