Omega Flex (NASDAQ:OFLX) Given "Sell (D+)" Rating at Weiss Ratings

Key Points

• Omega Flex has been given a "sell (D+)" rating by Weiss Ratings, indicating potential concerns about the stock's performance.
• The company's stock is currently trading at $29.07, with a fifty-two week range of $28.12 to $57.81.
• Omega Flex reported a net margin of 16.91% and a return on equity of 20.48% for its latest quarter, signaling profitable operational performance despite the sell rating.

Omega Flex (NASDAQ:OFLX - Get Free Report)'s stock had its "sell (d+)" rating restated by research analysts at Weiss Ratings in a report issued on Saturday,Weiss Ratings reports.

Omega Flex Stock Performance

OFLX stock opened at $29.07 on Friday. Omega Flex has a fifty-two week low of $28.12 and a fifty-two week high of $57.81. The stock has a fifty day moving average of $32.49 and a 200-day moving average of $32.59. The company has a market capitalization of $293.32 million, a price-to-earnings ratio of 17.30 and a beta of 0.35.

Omega Flex (NASDAQ:OFLX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter. The firm had revenue of $25.52 million during the quarter. Omega Flex had a return on equity of 20.48% and a net margin of 16.91%.

Hedge Funds Weigh In On Omega Flex

A number of hedge funds have recently made changes to their positions in the business. American Century Companies Inc. boosted its stake in shares of Omega Flex by 4.6% in the first quarter. American Century Companies Inc. now owns 7,667 shares of the industrial products company's stock worth $267,000 after acquiring an additional 340 shares during the period. Squarepoint Ops LLC boosted its stake in shares of Omega Flex by 2.3% in the second quarter. Squarepoint Ops LLC now owns 19,709 shares of the industrial products company's stock worth $638,000 after acquiring an additional 442 shares during the period. PDT Partners LLC boosted its stake in Omega Flex by 7.3% during the first quarter. PDT Partners LLC now owns 6,791 shares of the industrial products company's stock valued at $236,000 after buying an additional 462 shares during the last quarter. CWM LLC boosted its stake in Omega Flex by 51.8% during the second quarter. CWM LLC now owns 1,857 shares of the industrial products company's stock valued at $60,000 after buying an additional 634 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in Omega Flex by 9.3% during the third quarter. Exchange Traded Concepts LLC now owns 8,165 shares of the industrial products company's stock valued at $255,000 after buying an additional 696 shares during the last quarter. Institutional investors own 36.06% 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 North America and internationally. It offers flexible gas piping for use in residential and commercial buildings; fittings; containment pining; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.

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