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

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e)” rating on shares of OMS Energy Technologies in a research note on Monday. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.00.

OMS Energy Technologies Stock Down 9.0%

The business has a 50 day simple moving average of $4.85 and a 200-day simple moving average of $5.84.

Institutional Investors Weigh In On OMS Energy Technologies

Institutional investors have recently bought and sold shares of the stock. Americana Partners LLC acquired a new position in OMS Energy Technologies during the second quarter worth approximately $75,000. Sanders Morris Harris LLC purchased a new stake in shares of OMS Energy Technologies during the 3rd quarter valued at $73,000. Citadel Advisors LLC acquired a new stake in shares of OMS Energy Technologies during the 3rd quarter worth $80,000. Geode Capital Management LLC acquired a new stake in shares of OMS Energy Technologies during the 2nd quarter worth $148,000. Finally, Susquehanna International Group LLP purchased a new position in shares of OMS Energy Technologies in the 3rd quarter worth $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.