Omega Flex (NASDAQ:OFLX) Shares Pass Below 200-Day Moving Average – Should You Sell?

Omega Flex, Inc. (NASDAQ:OFLX)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $31.29 and traded as low as $30.56. Omega Flex shares last traded at $31.22, with a volume of 24,902 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Omega Flex in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Omega Flex has an average rating of “Sell”.

Omega Flex Stock Performance

The firm’s fifty day moving average is $28.44 and its two-hundred day moving average is $31.29. The company has a market cap of $315.01 million, a P/E ratio of 19.64 and a beta of 0.37.

Omega Flex (NASDAQ:OFLX) last released its quarterly earnings data on Friday, October 31st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter. Omega Flex had a return on equity of 19.24% and a net margin of 16.08%.The business had revenue of $24.23 million for the quarter.

Omega Flex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 7th. Shareholders of record on Friday, December 19th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, December 19th. This represents a $1.36 dividend on an annualized basis and a yield of 4.4%. Omega Flex’s dividend payout ratio is currently 85.53%.

Insider Buying and Selling at Omega Flex

In other news, Director Stephen M. Shea acquired 2,350 shares of Omega Flex stock in a transaction that occurred on Friday, December 5th. The stock was purchased at an average price of $28.47 per share, for a total transaction of $66,904.50. Following the purchase, the director directly owned 3,750 shares in the company, valued at $106,762.50. The trade was a 167.86% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In the last quarter, insiders have bought 4,134 shares of company stock valued at $118,486. 65.20% of the stock is currently owned by company insiders.

Institutional Trading of Omega Flex

Several large investors have recently bought and sold shares of OFLX. CWM LLC raised its position in Omega Flex by 51.8% during the 2nd quarter. CWM LLC now owns 1,857 shares of the industrial products company’s stock worth $60,000 after buying an additional 634 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Omega Flex during the first quarter worth about $159,000. BNP Paribas Financial Markets grew its holdings in shares of Omega Flex by 25.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,679 shares of the industrial products company’s stock worth $146,000 after purchasing an additional 957 shares during the period. US Bancorp DE raised its stake in shares of Omega Flex by 19.8% in the 3rd quarter. US Bancorp DE now owns 4,923 shares of the industrial products company’s stock valued at $154,000 after acquiring an additional 814 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of 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. Hedge funds and other institutional investors own 36.06% of the company’s stock.

About Omega Flex

Omega Flex, Inc designs, manufactures and distributes flexible metal tubing and related products that enable the safe and efficient conveyance of natural gas and other hydrocarbon fuels. The company’s engineered solutions offer leak-resistant connections and installation flexibility, serving original equipment manufacturers, distributors and end-users across residential, commercial and industrial markets.

Its product portfolio includes corrugated stainless steel tubing (CSST), stainless steel hose assemblies, mechanical connectors, fittings, leak detection equipment and specialized installation tools.