Omega Flex, Inc. (NASDAQ:OFLX) Short Interest Up 36.1% in January
by Amy Steele · The Cerbat GemOmega Flex, Inc. (NASDAQ:OFLX – Get Free Report) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 100,786 shares, an increase of 36.1% from the December 31st total of 74,041 shares. Based on an average trading volume of 33,629 shares, the days-to-cover ratio is currently 3.0 days. Approximately 2.9% of the company’s shares are short sold. Approximately 2.9% of the company’s shares are short sold. Based on an average trading volume of 33,629 shares, the days-to-cover ratio is currently 3.0 days.
Omega Flex Stock Performance
NASDAQ OFLX traded up $0.24 during trading on Friday, hitting $32.99. The stock had a trading volume of 43,683 shares, compared to its average volume of 36,204. Omega Flex has a 12 month low of $25.58 and a 12 month high of $42.08. The company’s 50-day moving average price is $30.14 and its two-hundred day moving average price is $31.04. The company has a market capitalization of $332.87 million, a PE ratio of 20.75 and a beta of 0.37.
Omega Flex (NASDAQ:OFLX – Get Free Report) last posted its quarterly earnings data on Friday, October 31st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter. Omega Flex had a net margin of 16.08% and a return on equity of 19.24%. The company had revenue of $24.23 million for the quarter.
Omega Flex Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 7th. Stockholders of record on Friday, December 19th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, December 19th. Omega Flex’s dividend payout ratio is presently 85.53%.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated a “sell (d)” rating on shares of Omega Flex in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Omega Flex has an average rating of “Sell”.
View Our Latest Stock Report on Omega Flex
Insider Buying and Selling
In other Omega Flex news, Director Stephen M. Shea bought 2,350 shares of the stock in a transaction on Friday, December 5th. The stock was purchased at an average price of $28.47 per share, with a total value of $66,904.50. Following the acquisition, the director owned 3,750 shares of the company’s stock, valued at approximately $106,762.50. The trade was a 167.86% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have acquired 4,134 shares of company stock worth $118,486. 65.20% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Omega Flex
Institutional investors have recently added to or reduced their stakes in the company. Comerica Bank lifted its stake in Omega Flex by 313.1% in the fourth quarter. Comerica Bank now owns 1,231 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 933 shares during the last quarter. CWM LLC raised its holdings in shares of Omega Flex by 51.8% in the 2nd quarter. CWM LLC now owns 1,857 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 634 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Omega Flex in the 1st quarter valued at about $159,000. BNP Paribas Financial Markets grew its holdings in Omega Flex by 25.7% during the third quarter. BNP Paribas Financial Markets now owns 4,679 shares of the industrial products company’s stock worth $146,000 after purchasing an additional 957 shares during the period. Finally, US Bancorp DE boosted its stake in shares of Omega Flex by 19.8% during the 3rd quarter. US Bancorp DE now owns 4,923 shares of the industrial products company’s stock worth $154,000 after acquiring an additional 814 shares during the period. 36.06% of the stock is currently owned by institutional investors and hedge funds.
Omega Flex Company Profile
Omega Flex, Inc designs, manufactures and distributes flexible metal tubing and related products that enable the safe and efficient conveyance of natural gas and other hydrocarbon fuels. The company’s engineered solutions offer leak-resistant connections and installation flexibility, serving original equipment manufacturers, distributors and end-users across residential, commercial and industrial markets.
Its product portfolio includes corrugated stainless steel tubing (CSST), stainless steel hose assemblies, mechanical connectors, fittings, leak detection equipment and specialized installation tools.