Omega Flex's (OFLX) Sell (D+) Rating Reiterated at Weiss Ratings

Key Points

• Omega Flex (NASDAQ: OFLX) has had its "sell (D+)" rating reiterated by Weiss Ratings, indicating continued concerns about the stock's performance.
• The company's stock opened at $30.01 with a market capitalization of $302.92 million and a one-year trading range between $28.12 and $57.81.
• Institutional investors currently own 36.06% of Omega Flex's shares, with several hedge funds increasing their stakes in the company over the first quarter.

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

Omega Flex Price Performance

Omega Flex stock opened at $30.01 on Wednesday. The stock's 50 day moving average is $33.30 and its 200 day moving average is $33.04. The firm has a market cap of $302.92 million, a P/E ratio of 17.86 and a beta of 0.35. Omega Flex has a one year low of $28.12 and a one year high of $57.81.

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

Institutional Investors Weigh In On Omega Flex

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its holdings in shares of Omega Flex by 4,271.4% during the first quarter. GAMMA Investing LLC now owns 1,530 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 1,495 shares in the last quarter. Nuveen LLC bought a new stake in shares of Omega Flex during the first quarter valued at approximately $848,000. Azzad Asset Management Inc. ADV bought a new stake in shares of Omega Flex during the first quarter valued at approximately $337,000. Bank of America Corp DE increased its holdings in shares of Omega Flex by 16.0% during the fourth quarter. Bank of America Corp DE now owns 6,507 shares of the industrial products company's stock valued at $273,000 after acquiring an additional 897 shares in the last quarter. Finally, Penn Mutual Asset Management increased its holdings in shares of Omega Flex by 7.9% during the first quarter. Penn Mutual Asset Management now owns 9,600 shares of the industrial products company's stock valued at $334,000 after acquiring an additional 700 shares in the last quarter. 36.06% of the stock is currently owned by institutional investors.

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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