Omega Flex, Inc. (NASDAQ:OFLX) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 307,200 shares, an increase of 7.2% from the January 15th total of 286,500 shares. Approximately 10.7% of the shares of the company are sold short. Based on an average daily volume of 19,200 shares, the days-to-cover ratio is presently 16.0 days.
OFLX stock traded down $5.60 during midday trading on Friday, reaching $85.50. 17,310 shares of the company were exchanged, compared to its average volume of 9,077. 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 business has a 50-day moving average price of $106.40 and a two-hundred day moving average price of $95.92. Omega Flex has a one year low of $63.64 and a one year high of $119.89. The firm has a market capitalization of $863.04 million, a price-to-earnings ratio of 48.86 and a beta of 0.74.
Omega Flex (NASDAQ:OFLX) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.55 EPS for the quarter. Omega Flex had a net margin of 16.07% and a return on equity of 25.66%. The firm had revenue of $29.73 million during the quarter.
Hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can boosted its position in Omega Flex by 46.5% during the fourth quarter. Bank of Montreal Can now owns 372 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 118 shares during the period. Citigroup Inc. boosted its position in Omega Flex by 62.0% during the fourth quarter. Citigroup Inc. now owns 648 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 248 shares during the period. Metropolitan Life Insurance Co NY bought a new position in Omega Flex during the first quarter worth $78,000. Tower Research Capital LLC TRC boosted its position in Omega Flex by 418.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 979 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 790 shares during the period. Finally, US Bancorp DE boosted its position in Omega Flex by 32.2% during the fourth quarter. US Bancorp DE now owns 1,598 shares of the industrial products company’s stock worth $172,000 after purchasing an additional 389 shares during the period. 34.50% of the stock is owned by hedge funds and other institutional investors.
About Omega Flex
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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