BidaskClub Upgrades Omega Flex (OFLX) to Hold

Omega Flex (NASDAQ:OFLX) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Saturday.

Shares of Omega Flex (OFLX) opened at $69.06 on Friday. The stock has a market cap of $667.78, a P/E ratio of 43.53 and a beta of 1.31. Omega Flex has a 1 year low of $41.87 and a 1 year high of $74.55.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN increased its position in Omega Flex by 22.1% in the second quarter. Wells Fargo & Company MN now owns 2,207 shares of the industrial products company’s stock worth $142,000 after purchasing an additional 399 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Omega Flex by 88.6% in the second quarter. The Manufacturers Life Insurance Company now owns 2,744 shares of the industrial products company’s stock worth $177,000 after purchasing an additional 1,289 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Omega Flex in the third quarter worth $201,000. Citadel Advisors LLC bought a new stake in Omega Flex in the third quarter worth $211,000. Finally, Swiss National Bank bought a new stake in Omega Flex in the second quarter worth $328,000. Institutional investors own 24.19% of the company’s stock.

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About Omega Flex

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.

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