Omega Flex (NASDAQ:OFLX) Rating Lowered to Hold at StockNews.com

Omega Flex (NASDAQ:OFLX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Omega Flex Stock Down 0.2 %

Shares of NASDAQ:OFLX opened at $53.25 on Tuesday. The company has a 50 day moving average of $50.08 and a 200-day moving average of $53.37. Omega Flex has a twelve month low of $43.86 and a twelve month high of $85.92.

Institutional Trading of Omega Flex

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC lifted its stake in Omega Flex by 5.1% during the third quarter. Los Angeles Capital Management LLC now owns 5,560 shares of the industrial products company’s stock valued at $278,000 after purchasing an additional 270 shares during the last quarter. Sei Investments Co. lifted its stake in Omega Flex by 1.5% during the first quarter. Sei Investments Co. now owns 23,694 shares of the industrial products company’s stock valued at $1,681,000 after purchasing an additional 348 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Omega Flex by 196.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,236 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 819 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Omega Flex by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 27,952 shares of the industrial products company’s stock valued at $1,395,000 after purchasing an additional 932 shares during the last quarter. Finally, EntryPoint Capital LLC lifted its stake in Omega Flex by 577.5% during the first quarter. EntryPoint Capital LLC now owns 1,836 shares of the industrial products company’s stock valued at $130,000 after purchasing an additional 1,565 shares during the last quarter. 36.06% of the stock is owned by institutional investors and hedge funds.

About Omega Flex

Omega Flex, Inc, together with its subsidiaries, manufactures and sells flexible metal hoses and accessories in North America and internationally. It offers flexible gas piping for use in residential and commercial buildings; fittings; containment pining; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.