Omega Flex (NASDAQ:OFLX) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Omega Flex, Inc. (NASDAQ:OFLX) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $32.71 and traded as low as $28.72. Omega Flex shares last traded at $29.15, with a volume of 28,394 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Omega Flex in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Omega Flex currently has a consensus rating of “Sell”.

Omega Flex Price Performance

The firm’s 50-day moving average is $32.90 and its 200 day moving average is $32.71. The stock has a market cap of $294.24 million, a price-to-earnings ratio of 17.35 and a beta of 0.35.

Omega Flex (NASDAQ:OFLX) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.41 EPS for the quarter. Omega Flex had a net margin of 16.91% and a return on equity of 20.48%. The firm had revenue of $25.52 million during the quarter.

Omega Flex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 8th. Investors of record on Thursday, September 25th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, September 25th. This represents a $1.36 annualized dividend and a yield of 4.7%. Omega Flex’s dividend payout ratio is 80.95%.

Hedge Funds Weigh In On Omega Flex

Several institutional investors and hedge funds have recently bought and sold shares of OFLX. CWM LLC grew its stake in Omega Flex by 183.8% during the first quarter. CWM LLC now owns 1,223 shares of the industrial products company’s stock worth $43,000 after buying an additional 792 shares during the period. GAMMA Investing LLC grew its stake in Omega Flex by 4,271.4% during the first quarter. GAMMA Investing LLC now owns 1,530 shares of the industrial products company’s stock worth $53,000 after buying an additional 1,495 shares during the period. PNC Financial Services Group Inc. grew its stake in Omega Flex by 95.9% during the first quarter. PNC Financial Services Group Inc. now owns 1,787 shares of the industrial products company’s stock worth $62,000 after buying an additional 875 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Omega Flex during the first quarter worth approximately $159,000. Finally, Rhumbline Advisers grew its stake in Omega Flex by 34.0% during the second quarter. Rhumbline Advisers now owns 6,551 shares of the industrial products company’s stock worth $212,000 after buying an additional 1,662 shares during the period. Institutional investors and hedge funds own 36.06% of the company’s stock.

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.