OMS Energy Technologies (NASDAQ:OMSE) Shares Down 9% – Here’s Why

OMS Energy Technologies Inc. (NASDAQ:OMSE) dropped 9% on Friday . The stock traded as low as $4.24 and last traded at $4.26. Approximately 25,329 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 36,633 shares. The stock had previously closed at $4.68.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e)” rating on shares of OMS Energy Technologies in a research report on Monday. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.00.

OMS Energy Technologies Price Performance

The firm has a fifty day moving average of $4.85 and a 200-day moving average of $5.84.

Institutional Investors Weigh In On OMS Energy Technologies

Several hedge funds have recently modified their holdings of OMSE. Sanders Morris Harris LLC acquired a new position in OMS Energy Technologies during the 3rd quarter worth approximately $73,000. Americana Partners LLC acquired a new stake in OMS Energy Technologies in the second quarter valued at approximately $75,000. Citadel Advisors LLC purchased a new stake in shares of OMS Energy Technologies during the third quarter valued at approximately $80,000. Susquehanna International Group LLP acquired a new position in shares of OMS Energy Technologies during the third quarter worth $97,000. Finally, Geode Capital Management LLC purchased a new position in shares of OMS Energy Technologies in the second quarter valued at $148,000.

OMS Energy Technologies Company Profile

We are a growth-oriented manufacturer of surface wellhead systems, or SWS, and oil country tubular goods, or OCTG products used in the oil and gas industry. These products are primarily used for both onshore and offshore oil exploration and production, or E&P activities in the Asia Pacific and the Middle Eastern and North Africa (MENA) Regions. Our customers often operate in geographic locations where the operating environment requires wellheads, casing and tubing materials capable of meeting exact standards for temperature, pressure, corrosion, torque resistance and abrasion.