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

Key Points

• Short interest fell 52.4% to 6,548 shares as of September 30, equal to 0.4 days to cover and approximately 0.0% of shares outstanding.
• OMS Energy Technologies shares declined 4.4% to $4.08, trading below their 50-day and 200-day moving averages; the stock’s 12-month range is $3.35 to $7.10.
• Analyst sentiment remains negative, with ratings of Hold and Sell producing a consensus “Reduce” rating. Ramsey Quantitative Systems also acquired a new stake of 36,978 shares valued at about $143,000.

OMS Energy Technologies Inc. (NASDAQ:OMSE - Get Free Report) was the recipient of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 6,548 shares, a drop of 52.4% from the September 15th total of 13,763 shares. Based on an average daily volume of 17,059 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.0% of the shares of the company are short sold.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Zacks Research raised shares of OMS Energy Technologies to a "hold" rating in a research note on Tuesday, August 4th. Weiss Ratings restated a "sell (d)" rating on shares of OMS Energy Technologies in a research note on Thursday, August 27th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, OMS Energy Technologies has an average rating of "Reduce".

OMS Energy Technologies Stock Down 4.4%

Shares of OMS Energy Technologies stock traded down $0.19 during trading on Wednesday, reaching $4.08. The company's stock had a trading volume of 36,350 shares, compared to its average volume of 18,268. The business has a 50 day moving average price of $4.48 and a 200-day moving average price of $4.44. OMS Energy Technologies has a 12-month low of $3.35 and a 12-month high of $7.10.

Institutional Investors Weigh In On OMS Energy Technologies

An institutional investor recently bought a new stake in OMS Energy Technologies stock. Ramsey Quantitative Systems bought a new stake in OMS Energy Technologies Inc. (NASDAQ:OMSE - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 36,978 shares of the company's stock, valued at approximately $143,000. Ramsey Quantitative Systems owned about 0.09% of OMS Energy Technologies as of its most recent filing with the Securities & Exchange Commission.

OMS Energy Technologies Company Profile

OMS Energy Technologies plc is a Singapore-based manufacturer and supplier of oil country tubular goods (OCTG), which are used in the drilling and production of oil and natural gas wells. Its product portfolio includes casing, tubing, line pipe, premium connections and related tubular products.

The company serves oil and gas operators, drilling contractors, distributors and other energy-industry customers. Its products are designed for use in onshore and offshore drilling applications and are supplied across international energy markets, including regions in Asia and the Middle East.

OMS Energy Technologies traces its business roots to 1988 and operates manufacturing and service capabilities in multiple locations, including Singapore, Indonesia and Saudi Arabia.

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