Omega Flex (NASDAQ:OFLX) Stock Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Omega Flex, Inc. (NASDAQ:OFLX) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $31.39 and traded as low as $30.76. Omega Flex shares last traded at $31.18, with a volume of 42,360 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Omega Flex from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Omega Flex Stock Performance

The firm’s 50-day moving average price is $31.14 and its two-hundred day moving average price is $31.45. The firm has a market capitalization of $311.98 million, a price-to-earnings ratio of 23.25 and a beta of 0.47.

Omega Flex (NASDAQ:OFLX) last issued its earnings results on Friday, May 1st. The industrial products company reported $0.21 earnings per share for the quarter. Omega Flex had a net margin of 13.60% and a return on equity of 15.94%. The business had revenue of $23.09 million for the quarter.

Omega Flex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 21st. Stockholders of record on Thursday, April 9th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Thursday, April 9th. Omega Flex’s payout ratio is 102.26%.

Institutional Trading of Omega Flex

Institutional investors have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co acquired a new stake in shares of Omega Flex during the 4th quarter valued at about $32,000. Russell Investments Group Ltd. lifted its holdings in Omega Flex by 65.2% during the 4th quarter. Russell Investments Group Ltd. now owns 1,120 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 442 shares during the last quarter. Comerica Bank lifted its holdings in Omega Flex by 313.1% during the 4th quarter. Comerica Bank now owns 1,231 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 933 shares during the last quarter. Fifth Third Bancorp bought a new position in Omega Flex during the 1st quarter valued at about $46,000. Finally, Royal Bank of Canada lifted its holdings in Omega Flex by 26.0% during the 4th quarter. Royal Bank of Canada now owns 4,789 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 988 shares during the last quarter. 36.06% of the stock is currently owned by institutional investors and hedge funds.

Omega Flex Company Profile

Omega Flex, Inc designs, manufactures and distributes flexible metal tubing and related products that enable the safe and efficient conveyance of natural gas and other hydrocarbon fuels. The company’s engineered solutions offer leak-resistant connections and installation flexibility, serving original equipment manufacturers, distributors and end-users across residential, commercial and industrial markets.

Its product portfolio includes corrugated stainless steel tubing (CSST), stainless steel hose assemblies, mechanical connectors, fittings, leak detection equipment and specialized installation tools.