Omega Flex (NASDAQ:OFLX) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Thursday.

Shares of Omega Flex (NASDAQ OFLX) traded up $1.14 during mid-day trading on Thursday, hitting $62.17. The company had a trading volume of 9,930 shares, compared to its average volume of 13,034. Omega Flex has a 52-week low of $41.87 and a 52-week high of $74.55. The company has a market cap of $631.85, a price-to-earnings ratio of 41.19 and a beta of 1.31.

Omega Flex (NASDAQ:OFLX) last issued its quarterly earnings results on Thursday, October 19th. The industrial products company reported $0.40 earnings per share (EPS) for the quarter. Omega Flex had a return on equity of 30.39% and a net margin of 15.32%. The firm had revenue of $24.92 million during the quarter.

Several hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP bought a new stake in shares of Omega Flex during the 3rd quarter worth approximately $201,000. Dimensional Fund Advisors LP lifted its stake in shares of Omega Flex by 1.3% during the 3rd 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. Schwab Charles Investment Management Inc. lifted its stake in shares of Omega Flex by 182.3% during the 3rd 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. Wells Fargo & Company MN lifted its stake in shares of Omega Flex by 209.9% during the 3rd quarter. Wells Fargo & Company MN now owns 6,839 shares of the industrial products company’s stock worth $491,000 after acquiring an additional 4,632 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Omega Flex during the 3rd quarter worth approximately $211,000. 24.19% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This piece of content was first reported by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark law. The original version of this piece of content can be read at https://www.americanbankingnews.com/2017/12/07/bidaskclub-lowers-omega-flex-oflx-to-sell.html.

Omega Flex Company Profile

Omega Flex, Inc is a manufacturer of flexible metal hose. The Company is engaged in a range of different markets, including construction, manufacturing, transportation, petrochemical, pharmaceutical and other industries. It operates through manufacture and sale of flexible metal hose and accessories segment.

Receive News & Ratings for Omega Flex Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Omega Flex Inc. and related companies with MarketBeat.com's FREE daily email newsletter.