Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) Sees Significant Drop in Short Interest

Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,500,000 shares, a decrease of 20.6% from the October 15th total of 1,890,000 shares. Based on an average daily trading volume, of 7,080,000 shares, the short-interest ratio is currently 0.2 days.

Odyssey Marine Exploration Price Performance

NASDAQ OMEX traded down $0.02 during mid-day trading on Friday, reaching $0.39. 483,847 shares of the stock were exchanged, compared to its average volume of 493,062. Odyssey Marine Exploration has a one year low of $0.37 and a one year high of $5.57. The stock has a 50 day simple moving average of $1.12 and a 200-day simple moving average of $3.24.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Voisard Asset Management Group Inc. lifted its stake in Odyssey Marine Exploration by 800.0% in the third quarter. Voisard Asset Management Group Inc. now owns 36,000 shares of the business services provider’s stock valued at $30,000 after buying an additional 32,000 shares during the period. Cowen AND Company LLC increased its stake in shares of Odyssey Marine Exploration by 20.0% in the 2nd quarter. Cowen AND Company LLC now owns 36,000 shares of the business services provider’s stock valued at $176,000 after acquiring an additional 6,000 shares in the last quarter. ARS Wealth Advisors Group LLC lifted its position in shares of Odyssey Marine Exploration by 5.7% during the 2nd quarter. ARS Wealth Advisors Group LLC now owns 51,089 shares of the business services provider’s stock valued at $249,000 after acquiring an additional 2,750 shares during the period. Renaissance Technologies LLC bought a new position in Odyssey Marine Exploration during the second quarter worth $372,000. Finally, Vanguard Group Inc. boosted its stake in Odyssey Marine Exploration by 39.1% during the first quarter. Vanguard Group Inc. now owns 836,505 shares of the business services provider’s stock worth $3,187,000 after acquiring an additional 235,334 shares in the last quarter. 49.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Odyssey Marine Exploration in a research report on Thursday, September 26th. They set a “hold” rating for the company.

About Odyssey Marine Exploration

Odyssey Marine Exploration, Inc, together with its subsidiaries, discovers, validates, and develops seafloor mineral resources worldwide. The company provides specialized mineral exploration, project development, and marine services to clients. Odyssey Marine Exploration, Inc was founded in 1994 and is headquartered in Tampa, Florida.