Omega Flex, Inc. (NASDAQ:OFLX) Short Interest Up 7.2% in January

Omega Flex, Inc. (NASDAQ:OFLX) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 307,200 shares, an increase of 7.2% from the January 15th total of 286,500 shares. Based on an average daily trading volume, of 19,200 shares, the short-interest ratio is currently 16.0 days. Approximately 10.7% of the shares of the stock are short sold.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Conestoga Capital Advisors LLC grew its stake in shares of Omega Flex by 218.7% in the 4th quarter. Conestoga Capital Advisors LLC now owns 348,619 shares of the industrial products company’s stock worth $37,403,000 after purchasing an additional 239,248 shares during the last quarter. BlackRock Inc. grew its stake in shares of Omega Flex by 12.2% in the 2nd quarter. BlackRock Inc. now owns 188,131 shares of the industrial products company’s stock worth $14,449,000 after purchasing an additional 20,506 shares during the last quarter. State Street Corp grew its stake in shares of Omega Flex by 1.2% in the 4th quarter. State Street Corp now owns 59,738 shares of the industrial products company’s stock worth $6,426,000 after purchasing an additional 694 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Omega Flex by 46.0% in the 4th quarter. Russell Investments Group Ltd. now owns 52,565 shares of the industrial products company’s stock worth $5,639,000 after purchasing an additional 16,562 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Omega Flex by 31.1% in the 4th quarter. Renaissance Technologies LLC now owns 35,000 shares of the industrial products company’s stock worth $3,755,000 after purchasing an additional 8,300 shares during the last quarter. 34.50% of the stock is currently owned by institutional investors.

Shares of OFLX traded down $5.60 during mid-day trading on Friday, hitting $85.50. The company’s stock had a trading volume of 17,310 shares. The firm has a 50-day moving average price of $106.40 and a 200 day moving average price of $95.92. Omega Flex has a fifty-two week low of $63.64 and a fifty-two week high of $119.89.

Omega Flex (NASDAQ:OFLX) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $0.55 earnings per share (EPS) for the quarter. The business had revenue of $29.73 million during the quarter.

Separately, BidaskClub cut shares of Omega Flex from a “sell” rating to a “strong sell” rating in a research note on Thursday.

Omega Flex Company Profile

Omega Flex, Inc, together with its subsidiaries, manufactures and sells flexible metal hoses and accessories in the United States and internationally. It offers flexible gas piping for use in residential and commercial buildings, as well as its fittings; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.

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