Odyssey Marine Exploration Down 11.6%, Shares Slide into the Red (OMEX)

Posted on May 13, 2014

Odyssey Marine Exploration (NASDAQ:OMEX) is one of today’s worst performing low-priced stocks, down 11.6% to $ 1.95 on 1.4x average daily volume. Odyssey Marine Exploration has traded 916,000 shares thus far today, vs. average volume of 642,000 shares per day. The stock has underperformed the Dow (-11.6% to the Dow’s 0.2%) and underperformed the S&P 500 (-11.6% to the S&P’s 0.2%) during today’s trading.

There is potential upside of 234.2% for shares of Odyssey Marine Exploration based on a current price of $ 1.95 and an average consensus analyst price target of $ 6.50. Odyssey Marine Exploration shares should first meet resistance at the 50-day moving average (MA) of $ 2.23 and find additional resistance at the 200-day MA of $ 2.41.

Odyssey Marine Exploration share prices have moved between a 52-week high of $ 4.43 and a 52-week low of $ 1.72 and are now trading 13% above that low price at $ 1.95 per share. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 0.2%.

Odyssey Marine Exploration, Inc. specializes in shipwreck search, recovery, and marketing. The Company focuses on deep ocean shipwrecks and conducts salvage operations, cargo recovery services, and archaeological artifact finds.

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