OMS Energy Technologies (NASDAQ:OMSE) Shares Down 2.6% – Here’s Why

OMS Energy Technologies Inc. (NASDAQ:OMSE) shares fell 2.6% on Tuesday . The company traded as low as $4.20 and last traded at $4.20. Approximately 11,747 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 24,910 shares. The stock had previously closed at $4.31.

Analysts Set New Price Targets

Separately, Weiss Ratings raised OMS Energy Technologies from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, OMS Energy Technologies presently has an average rating of “Sell”.

OMS Energy Technologies Stock Performance

The firm has a 50-day simple moving average of $4.37 and a 200 day simple moving average of $4.51.

Hedge Funds Weigh In On OMS Energy Technologies

A number of hedge funds have recently modified their holdings of OMSE. Renaissance Technologies LLC acquired a new position in shares of OMS Energy Technologies in the 1st quarter valued at $44,000. XTX Topco Ltd acquired a new stake in OMS Energy Technologies during the 4th quarter worth $63,000. Citadel Advisors LLC purchased a new position in OMS Energy Technologies during the 3rd quarter worth $80,000. Geode Capital Management LLC acquired a new position in OMS Energy Technologies in the second quarter valued at $148,000. Finally, Susquehanna International Group LLP acquired a new position in OMS Energy Technologies in the third quarter valued at $97,000.

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.