OMS Energy Technologies Inc. (NASDAQ:OMSE) Short Interest Update

Key Points

• Short interest fell 29.0% in March to 5,327 shares (reported as 0.0% of shares sold short) with a days-to-cover ratio of about 0.2 based on average daily volume.
• Institutional investors — including Geode, Two Sigma, Citadel, Millennium and Sanders Morris Harris — opened new positions in OMSE, representing several hundred thousand dollars of inflows across the firms.
• Analyst coverage is mixed (one Buy, one Sell) with an average rating of "Hold" and an average target of $10.00; the stock trades near $4.61 with a 52-week range of $3.27–$9.86.

OMS Energy Technologies Inc. (NASDAQ:OMSE - Get Free Report) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totaling 5,327 shares, a decline of 29.0% from the March 15th total of 7,498 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 22,027 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On OMS Energy Technologies

Several institutional investors have recently modified their holdings of OMSE. Geode Capital Management LLC bought a new position in shares of OMS Energy Technologies during the second quarter worth about $148,000. Sanders Morris Harris LLC bought a new position in shares of OMS Energy Technologies during the third quarter worth about $73,000. Two Sigma Investments LP bought a new position in shares of OMS Energy Technologies during the third quarter worth about $310,000. Citadel Advisors LLC bought a new position in shares of OMS Energy Technologies during the third quarter worth about $80,000. Finally, Millennium Management LLC bought a new position in shares of OMS Energy Technologies during the third quarter worth about $474,000.

OMS Energy Technologies Stock Performance

OMS Energy Technologies stock opened at $4.61 on Tuesday. The company has a 50-day simple moving average of $4.50 and a 200-day simple moving average of $4.61. OMS Energy Technologies has a one year low of $3.27 and a one year high of $9.86.

Analysts Set New Price Targets

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

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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