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

Omega Flex, Inc. (NASDAQ:OFLX) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 274,800 shares, a decrease of 6.4% from the September 30th total of 293,500 shares. Based on an average trading volume of 17,500 shares, the days-to-cover ratio is currently 15.7 days. Currently, 9.5% of the shares of the stock are sold short.

Separately, BidaskClub cut Omega Flex from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 31st.

Several large investors have recently made changes to their positions in the company. Conestoga Capital Advisors LLC grew its stake in shares of Omega Flex by 4.0% during the second quarter. Conestoga Capital Advisors LLC now owns 4,195 shares of the industrial products company’s stock valued at $322,000 after buying an additional 160 shares during the last quarter. Swiss National Bank grew its stake in shares of Omega Flex by 3.6% during the second quarter. Swiss National Bank now owns 5,700 shares of the industrial products company’s stock valued at $438,000 after buying an additional 200 shares during the last quarter. Advisor Group Inc. grew its stake in shares of Omega Flex by 17.7% during the second quarter. Advisor Group Inc. now owns 1,418 shares of the industrial products company’s stock valued at $108,000 after buying an additional 213 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Omega Flex by 3.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 16,990 shares of the industrial products company’s stock valued at $1,306,000 after buying an additional 525 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Omega Flex by 3.4% during the third quarter. California Public Employees Retirement System now owns 17,335 shares of the industrial products company’s stock valued at $1,773,000 after buying an additional 568 shares during the last quarter. 32.18% of the stock is currently owned by hedge funds and other institutional investors.

OFLX traded down $0.75 during trading on Monday, reaching $92.15. The stock had a trading volume of 3,141 shares, compared to its average volume of 18,490. The stock has a market cap of $924.24 million, a PE ratio of 52.32 and a beta of 0.78. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.37 and a current ratio of 3.90. Omega Flex has a one year low of $51.02 and a one year high of $102.65. The business has a 50-day moving average of $94.51 and a 200-day moving average of $85.90.

Omega Flex (NASDAQ:OFLX) last announced its quarterly earnings data on Thursday, October 17th. The industrial products company reported $0.33 earnings per share (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 $28.03 million for the quarter.

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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