Omega Flex, Inc. (NASDAQ:OFLX) Short Interest Update

Omega Flex, Inc. (NASDAQ:OFLX) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 49,900 shares, a growth of 25.1% from the April 30th total of 39,900 shares. Approximately 1.4% of the company’s stock are short sold. Based on an average daily volume of 24,900 shares, the days-to-cover ratio is currently 2.0 days.

Institutional Investors Weigh In On Omega Flex

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC raised its position in Omega Flex by 183.8% in the 1st quarter. CWM LLC now owns 1,223 shares of the industrial products company’s stock valued at $43,000 after buying an additional 792 shares during the last quarter. GAMMA Investing LLC raised its position in Omega Flex by 4,271.4% in the 1st quarter. GAMMA Investing LLC now owns 1,530 shares of the industrial products company’s stock valued at $53,000 after buying an additional 1,495 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Omega Flex by 95.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,787 shares of the industrial products company’s stock valued at $62,000 after buying an additional 875 shares during the last quarter. State of Wyoming purchased a new stake in Omega Flex in the 4th quarter valued at $135,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Omega Flex in the 1st quarter valued at $159,000. 36.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Omega Flex from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th.

Omega Flex Stock Up 0.2%

Shares of NASDAQ:OFLX opened at $32.21 on Thursday. Omega Flex has a twelve month low of $28.12 and a twelve month high of $61.75. The stock’s 50 day moving average is $31.91 and its 200-day moving average is $38.14. The firm has a market capitalization of $325.13 million, a price-to-earnings ratio of 17.80 and a beta of 0.36.

Omega Flex (NASDAQ:OFLX) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $0.35 earnings per share for the quarter. Omega Flex had a return on equity of 22.68% and a net margin of 17.71%. The company had revenue of $23.33 million for the quarter.

Omega Flex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Thursday, April 10th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date was Thursday, April 10th. Omega Flex’s payout ratio is currently 79.07%.

About Omega Flex

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