Omega Flex, Inc. (NASDAQ:OFLX) Short Interest Update

Omega Flex, Inc. (NASDAQ:OFLX) was the recipient of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 307,200 shares, a growth of 7.2% from the January 15th total of 286,500 shares. Currently, 10.7% of the company’s stock are sold short. Based on an average daily trading volume, of 19,200 shares, the short-interest ratio is currently 16.0 days.

OFLX stock traded down $5.60 during mid-day trading on Friday, hitting $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 quick ratio of 3.37 and a current ratio of 3.90. The firm has a market cap of $863.04 million, a P/E ratio of 48.86 and a beta of 0.74. The firm’s 50 day simple moving average is $106.40 and its 200 day simple moving average is $95.92. Omega Flex has a 1-year low of $63.64 and a 1-year high of $119.89.

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

Hedge funds have recently made changes to their positions in the business. Bank of Montreal Can raised its holdings in Omega Flex by 46.5% during the 4th quarter. Bank of Montreal Can now owns 372 shares of the industrial products company’s stock worth $40,000 after buying an additional 118 shares during the period. Citigroup Inc. raised its holdings in Omega Flex by 62.0% during the 4th quarter. Citigroup Inc. now owns 648 shares of the industrial products company’s stock worth $70,000 after buying an additional 248 shares during the period. Metropolitan Life Insurance Co NY acquired a new stake in Omega Flex during the 1st quarter worth approximately $78,000. Tower Research Capital LLC TRC raised its holdings in Omega Flex by 418.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 979 shares of the industrial products company’s stock worth $105,000 after buying an additional 790 shares during the period. Finally, US Bancorp DE raised its holdings in Omega Flex by 32.2% during the 4th quarter. US Bancorp DE now owns 1,598 shares of the industrial products company’s stock worth $172,000 after buying an additional 389 shares during the period. Hedge funds and other institutional investors own 34.50% of the company’s stock.

Separately, BidaskClub downgraded shares of Omega Flex from a “sell” rating to a “strong sell” rating in a report on Thursday.

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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