Omega Flex (NASDAQ:OFLX - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Friday.
Omega Flex Price Performance
NASDAQ:OFLX traded up $1.60 during trading hours on Friday, hitting $38.68. The company's stock had a trading volume of 15,645 shares, compared to its average volume of 19,844. The stock has a fifty day simple moving average of $39.07 and a 200-day simple moving average of $45.33. The company has a market capitalization of $390.44 million, a P/E ratio of 21.37 and a beta of 0.26. Omega Flex has a twelve month low of $34.39 and a twelve month high of $75.14.
Omega Flex (NASDAQ:OFLX - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The industrial products company reported $0.46 earnings per share for the quarter. The business had revenue of $26.97 million for the quarter. Omega Flex had a return on equity of 22.68% and a net margin of 17.71%.
Institutional Trading of Omega Flex
A number of hedge funds have recently made changes to their positions in the company. Two Sigma Advisers LP boosted its stake in shares of Omega Flex by 5.5% during the fourth quarter. Two Sigma Advisers LP now owns 7,700 shares of the industrial products company's stock valued at $323,000 after purchasing an additional 400 shares in the last quarter. State of Wyoming bought a new position in shares of Omega Flex during the fourth quarter worth about $135,000. Citadel Advisors LLC raised its position in shares of Omega Flex by 5.0% during the fourth quarter. Citadel Advisors LLC now owns 23,806 shares of the industrial products company's stock worth $999,000 after acquiring an additional 1,124 shares during the last quarter. Bank of America Corp DE raised its position in shares of Omega Flex by 16.0% during the fourth quarter. Bank of America Corp DE now owns 6,507 shares of the industrial products company's stock worth $273,000 after acquiring an additional 897 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Omega Flex by 1.4% during the fourth quarter. Northern Trust Corp now owns 36,525 shares of the industrial products company's stock worth $1,533,000 after acquiring an additional 499 shares during the last quarter. 36.06% of the stock is owned by institutional investors and hedge funds.
About Omega Flex
(
Get Free Report)
Omega Flex, Inc, together with its subsidiaries, manufactures and sells flexible metal hoses and accessories in North America and internationally. It offers flexible gas piping for use in residential and commercial buildings; fittings; containment pining; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.
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