Omega Flex (NASDAQ:OFLX) Downgraded to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of Omega Flex (NASDAQ:OFLX) from a sell rating to a strong sell rating in a research report released on Thursday morning, BidAskClub reports.

Omega Flex stock traded down $5.60 during mid-day trading on Thursday, reaching $85.50. 17,310 shares of the company were exchanged, compared to its average volume of 9,077. The company has a fifty day simple moving average of $106.40 and a 200-day simple moving average of $95.92. Omega Flex has a 12 month low of $63.64 and a 12 month high of $119.89. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.90 and a quick ratio of 3.37. The firm has a market cap of $863.04 million, a PE ratio of 48.86 and a beta of 0.74.

Omega Flex (NASDAQ:OFLX) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.55 EPS for the quarter. Omega Flex had a return on equity of 25.66% and a net margin of 16.07%. The firm had revenue of $29.73 million for the quarter.

Several institutional investors and hedge funds have recently modified their holdings of OFLX. Bank of Montreal Can increased its stake in shares of Omega Flex by 46.5% in the 4th quarter. Bank of Montreal Can now owns 372 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 118 shares during the last quarter. Citigroup Inc. increased its stake in shares of Omega Flex by 62.0% in the 4th quarter. Citigroup Inc. now owns 648 shares of the industrial products company’s stock valued at $70,000 after purchasing an additional 248 shares during the last quarter. Metropolitan Life Insurance Co NY bought a new position in shares of Omega Flex in the 1st quarter valued at $78,000. Tower Research Capital LLC TRC increased its stake in shares of Omega Flex by 418.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 979 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 790 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of Omega Flex by 32.2% in the 4th quarter. US Bancorp DE now owns 1,598 shares of the industrial products company’s stock valued at $172,000 after purchasing an additional 389 shares during the last quarter. Institutional investors own 34.50% of the company’s stock.

Omega Flex Company Profile

Omega Flex, Inc, together with its subsidiaries, manufactures and sells flexible metal hoses and accessories in the United States and internationally. It offers flexible gas piping for use in residential and commercial buildings, as well as its fittings; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.

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