OMS Energy Technologies Inc. (NASDAQ:OMSE) Short Interest Up 72.0% in August

Key Points

• Short interest jumped 72% in August to 40,808 shares, equal to 0.1% of outstanding shares and 1.4 days of average trading volume.
• Ramsey Quantitative Systems acquired a new stake of 36,978 shares, valued at approximately $143,000, representing about 0.09% of OMS Energy Technologies.
• The stock recently traded at $4.37, near its 50- and 200-day moving averages, while analyst sentiment remained negative with a consensus rating of “Reduce”.

OMS Energy Technologies Inc. (NASDAQ:OMSE - Get Free Report) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 40,808 shares, a growth of 72.0% from the August 15th total of 23,721 shares. Based on an average trading volume of 29,575 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.1% of the company's shares are sold short.

Institutional Investors Weigh In On OMS Energy Technologies

An institutional investor recently bought a new stake in OMS Energy Technologies stock. Ramsey Quantitative Systems acquired a new stake in OMS Energy Technologies Inc. (NASDAQ:OMSE - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 36,978 shares of the company's stock, valued at approximately $143,000. Ramsey Quantitative Systems owned approximately 0.09% of OMS Energy Technologies at the end of the most recent reporting period.

OMS Energy Technologies Price Performance

OMSE traded down $0.06 during trading on Wednesday, reaching $4.37. 8,798 shares of the stock were exchanged, compared to its average volume of 18,440. The stock's 50 day moving average price is $4.44 and its two-hundred day moving average price is $4.47. OMS Energy Technologies has a twelve month low of $3.27 and a twelve month high of $7.10.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Zacks Research upgraded OMS Energy Technologies to a "hold" rating in a research report on Tuesday, August 4th. Weiss Ratings reissued a "sell (d)" rating on shares of OMS Energy Technologies in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Reduce".

OMS Energy Technologies Company Profile

OMS Energy Technologies Inc is an energy equipment company that manufactures and supplies oil country tubular goods (OCTG) and related products for the oil and gas industry. Its offerings include casing and tubing used in drilling and well-completion operations, along with threaded connections, couplings and other tubular accessories.

The company's products are designed to support onshore and offshore exploration, production and well-construction activities. OMS Energy Technologies serves oilfield service companies, distributors and other participants in the energy supply chain, with operations and customers spanning international markets.

OMS Energy Technologies is associated with the OMS Group, an established manufacturer of tubular products.

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