Omega Flex (NASDAQ:OFLX - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Tuesday.
Omega Flex Price Performance
NASDAQ OFLX traded down $0.18 on Tuesday, reaching $30.47. The company had a trading volume of 23,045 shares, compared to its average volume of 24,663. Omega Flex has a 1 year low of $29.72 and a 1 year high of $69.70. The firm has a 50-day moving average of $36.59 and a 200-day moving average of $42.99. The firm has a market capitalization of $307.56 million, a PE ratio of 16.83 and a beta of 0.38.
Omega Flex (NASDAQ:OFLX - Get Free Report) last announced its earnings results on Wednesday, March 5th. The industrial products company reported $0.46 earnings per share for the quarter. Omega Flex had a net margin of 17.71% and a return on equity of 22.68%. The business had revenue of $26.97 million during the quarter.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of OFLX. JPMorgan Chase & Co. raised its position in shares of Omega Flex by 51.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,512 shares of the industrial products company's stock valued at $675,000 after purchasing an additional 4,578 shares in the last quarter. State Street Corp increased its stake in shares of Omega Flex by 3.4% in the third quarter. State Street Corp now owns 74,196 shares of the industrial products company's stock worth $3,729,000 after buying an additional 2,433 shares during the last quarter. Geode Capital Management LLC raised its holdings in Omega Flex by 2.7% in the third quarter. Geode Capital Management LLC now owns 89,362 shares of the industrial products company's stock valued at $4,461,000 after acquiring an additional 2,358 shares in the last quarter. Barclays PLC boosted its stake in Omega Flex by 405.9% during the 3rd quarter. Barclays PLC now owns 6,450 shares of the industrial products company's stock valued at $323,000 after acquiring an additional 5,175 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Omega Flex during the 4th quarter worth $690,000. Hedge funds and other institutional investors own 36.06% of the company's stock.
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.
Featured Articles
Before you consider Omega Flex, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Omega Flex wasn't on the list.
While Omega Flex currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
