Omega Flex (NASDAQ:OFLX) Upgraded by BidaskClub to “Sell”

BidaskClub upgraded shares of Omega Flex (NASDAQ:OFLX) from a strong sell rating to a sell rating in a research note published on Friday, March 9th.

Shares of OFLX traded down $0.10 during mid-day trading on Friday, reaching $65.00. 19,095 shares of the company’s stock were exchanged, compared to its average volume of 13,390. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.51 and a quick ratio of 3.06. Omega Flex has a 52-week low of $46.07 and a 52-week high of $76.63. The stock has a market cap of $656.98, a price-to-earnings ratio of 42.00 and a beta of 0.85.

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Omega Flex (NASDAQ:OFLX) last issued its quarterly earnings data on Thursday, February 8th. The industrial products company reported $0.44 earnings per share for the quarter. Omega Flex had a net margin of 15.39% and a return on equity of 29.60%. The business had revenue of $27.46 million during the quarter.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in Omega Flex by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 251,875 shares of the industrial products company’s stock worth $18,095,000 after acquiring an additional 3,258 shares during the last quarter. Ranger Investment Management L.P. boosted its position in Omega Flex by 7.0% during the fourth quarter. Ranger Investment Management L.P. now owns 44,020 shares of the industrial products company’s stock worth $3,143,000 after acquiring an additional 2,880 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Omega Flex by 182.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 17,986 shares of the industrial products company’s stock worth $1,293,000 after acquiring an additional 11,614 shares during the last quarter. Vanguard Group Inc. boosted its position in Omega Flex by 5.7% during the second quarter. Vanguard Group Inc. now owns 134,937 shares of the industrial products company’s stock worth $8,690,000 after acquiring an additional 7,257 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its position in Omega Flex by 33.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 815,945 shares of the industrial products company’s stock worth $58,618,000 after acquiring an additional 204,802 shares during the last quarter. Hedge funds and other institutional investors own 31.89% of the company’s stock.

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About Omega Flex

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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