OMS Energy Technologies (NASDAQ:OMSE) Trading Down 0.7% - Should You Sell?

Key Points

• OMS Energy Technologies' stock fell by 0.7% to $6.69, with trading volume increasing by 24% compared to the average.
• Research analysts have set a buy rating for the stock with a target price of $10.00, and the current consensus rating remains positive.
• Institutional investor Geode Capital Management purchased a new stake in OMS Energy Technologies, acquiring 22,011 shares valued at approximately $148,000.

OMS Energy Technologies Inc. (NASDAQ:OMSE - Get Free Report) shares fell 0.7% during mid-day trading on Thursday . The stock traded as low as $6.58 and last traded at $6.69. 108,115 shares changed hands during mid-day trading, an increase of 24% from the average session volume of 87,204 shares. The stock had previously closed at $6.74.

Analysts Set New Price Targets

Several research analysts have weighed in on OMSE shares. Roth Capital initiated coverage on shares of OMS Energy Technologies in a research note on Friday, July 11th. They set a "buy" rating and a $10.00 target price for the company. Wall Street Zen upgraded shares of OMS Energy Technologies to a "hold" rating in a report on Saturday, May 24th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $10.00.

OMS Energy Technologies Trading Down 0.7%

The firm has a 50 day simple moving average of $7.02.

Institutional Investors Weigh In On OMS Energy Technologies

A hedge fund recently bought a new stake in OMS Energy Technologies stock. Geode Capital Management LLC purchased a new stake in OMS Energy Technologies Inc. (NASDAQ:OMSE - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 22,011 shares of the company's stock, valued at approximately $148,000. Geode Capital Management LLC owned approximately 0.05% of OMS Energy Technologies at the end of the most recent reporting period.

OMS Energy Technologies Company Profile

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.

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