OMS Energy Technologies Inc. (NASDAQ:OMSE) Sees Large Decrease in Short Interest

OMS Energy Technologies Inc. (NASDAQ:OMSE) was the target of a large drop in short interest in September. As of September 30th, there was short interest totaling 6,548 shares, a drop of 52.4% from the September 15th total of 13,763 shares. Based on an average daily volume of 17,059 shares, the short-interest ratio is currently 0.4 days. Approximately 0.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several equities analysts have weighed in on OMSE shares. Weiss Ratings reissued a “sell (d)” rating on shares of OMS Energy Technologies in a research report on Thursday, August 27th. Zacks Research upgraded OMS Energy Technologies to a “hold” rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, OMS Energy Technologies presently has a consensus rating of “Reduce”.

OMS Energy Technologies Stock Down 4.4%

NASDAQ OMSE traded down $0.19 during mid-day trading on Wednesday, reaching $4.08. 36,350 shares of the stock were exchanged, compared to its average volume of 18,268. OMS Energy Technologies has a 1-year low of $3.35 and a 1-year high of $7.10. The business’s fifty day simple moving average is $4.48 and its 200 day simple moving average is $4.44.

Hedge Funds Weigh In On OMS Energy Technologies

An institutional investor recently bought a new stake in OMS Energy Technologies stock. Renaissance Technologies LLC purchased a new position in OMS Energy Technologies Inc. (NASDAQ:OMSE) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,400 shares of the company’s stock, valued at approximately $44,000.

OMS Energy Technologies Company Profile

OMS Energy Technologies plc is a Singapore-based manufacturer and supplier of oil country tubular goods (OCTG), which are used in the drilling and production of oil and natural gas wells. Its product portfolio includes casing, tubing, line pipe, premium connections and related tubular products.

The company serves oil and gas operators, drilling contractors, distributors and other energy-industry customers. Its products are designed for use in onshore and offshore drilling applications and are supplied across international energy markets, including regions in Asia and the Middle East.

OMS Energy Technologies traces its business roots to 1988 and operates manufacturing and service capabilities in multiple locations, including Singapore, Indonesia and Saudi Arabia.