OMS Energy Technologies Inc. (NASDAQ:OMSE) Sees Large Drop in Short Interest

Key Points

• Short interest fell 17.9% to 8,219 shares as of Feb. 27, leaving a short-interest ratio of about 1.0 day and effectively 0.0% of the stock shorted.
• OMS traded around $4.43 (mid-day) and is below its 50‑day ($4.59) and 200‑day ($4.74) moving averages, with a one‑year range of $3.27 to $9.86.
• Analysts are mixed—MarketBeat shows a consensus "Hold" with an average target of $10 while Weiss Ratings reiterated a sell—and several large investors (including Two Sigma, Millennium, Citadel, and Geode) recently initiated positions.

OMS Energy Technologies Inc. (NASDAQ:OMSE - Get Free Report) saw a large decline in short interest during the month of February. As of February 27th, there was short interest totaling 8,219 shares, a decline of 17.9% from the February 12th total of 10,008 shares. Based on an average trading volume of 8,150 shares, the short-interest ratio is presently 1.0 days. Approximately 0.0% of the shares of the stock are short sold. Approximately 0.0% of the shares of the stock are short sold. Based on an average trading volume of 8,150 shares, the short-interest ratio is presently 1.0 days.

OMS Energy Technologies Stock Performance

NASDAQ:OMSE traded up $0.01 during mid-day trading on Monday, reaching $4.43. The stock had a trading volume of 4,321 shares, compared to its average volume of 10,997. The firm has a 50 day moving average price of $4.59 and a two-hundred day moving average price of $4.74. OMS Energy Technologies has a one year low of $3.27 and a one year high of $9.86.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "sell (e)" rating on shares of OMS Energy Technologies in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $10.00.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC purchased a new stake in shares of OMS Energy Technologies in the 2nd quarter valued at $148,000. Sanders Morris Harris LLC purchased a new position in OMS Energy Technologies in the 3rd quarter worth $73,000. Two Sigma Investments LP purchased a new position in OMS Energy Technologies in the 3rd quarter worth $310,000. Citadel Advisors LLC bought a new stake in OMS Energy Technologies in the third quarter worth $80,000. Finally, Millennium Management LLC bought a new stake in OMS Energy Technologies in the third quarter worth $474,000.

About OMS Energy Technologies

We are a growth-oriented manufacturer of surface wellhead systems, or SWS, and oil country tubular goods, or OCTG products used in the oil and gas industry. These products are primarily used for both onshore and offshore oil exploration and production, or E&P activities in the Asia Pacific and the Middle Eastern and North Africa (MENA) Regions. Our customers often operate in geographic locations where the operating environment requires wellheads, casing and tubing materials capable of meeting exact standards for temperature, pressure, corrosion, torque resistance and abrasion.

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