Omega Flex (NASDAQ:OFLX) Share Price Passes Below Fifty Day Moving Average of $81.31
Omega Flex, Inc. (NASDAQ:OFLX)’s share price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $81.31 and traded as low as $75.73. Omega Flex shares last traded at $75.73, with a volume of 96 shares traded.
Separately, BidaskClub upgraded shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 28th.
The stock has a market cap of $762.03 million, a price-to-earnings ratio of 37.57 and a beta of 0.90. The company has a current ratio of 6.21, a quick ratio of 5.44 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $80.68.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Monday, June 24th were given a dividend of $0.28 per share. The ex-dividend date was Friday, June 21st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.51%. This is a boost from Omega Flex’s previous quarterly dividend of $0.24.
Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its position in Omega Flex by 60,700.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 608 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 607 shares in the last quarter. PNC Financial Services Group Inc. acquired a new stake in Omega Flex in the 4th quarter valued at about $46,000. Metropolitan Life Insurance Co NY acquired a new stake in Omega Flex in the 1st quarter valued at about $78,000. Advisor Group Inc. increased its position in Omega Flex by 18.3% in the 4th quarter. Advisor Group Inc. now owns 1,203 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 186 shares in the last quarter. Finally, MetLife Investment Advisors LLC acquired a new stake in Omega Flex in the 1st quarter valued at about $109,000. Institutional investors and hedge funds own 27.11% of the company’s stock.
About Omega Flex (NASDAQ:OFLX)
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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