OMS Energy Technologies (NASDAQ:OMSE) Trading Down 2.6% – Time to Sell?

OMS Energy Technologies Inc. (NASDAQ:OMSE)’s stock price fell 2.6% during trading on Tuesday . The company traded as low as $4.20 and last traded at $4.20. 11,747 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 24,910 shares. The stock had previously closed at $4.31.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of OMS Energy Technologies from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

OMS Energy Technologies Trading Down 2.6%

The company has a 50-day moving average price of $4.37 and a 200-day moving average price of $4.51.

Hedge Funds Weigh In On OMS Energy Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC purchased a new position in OMS Energy Technologies in the first quarter valued at approximately $44,000. XTX Topco Ltd purchased a new stake in shares of OMS Energy Technologies during the 4th quarter worth approximately $63,000. Citadel Advisors LLC purchased a new stake in shares of OMS Energy Technologies during the 3rd quarter worth approximately $80,000. Geode Capital Management LLC acquired a new position in shares of OMS Energy Technologies in the 2nd quarter valued at $148,000. Finally, Susquehanna International Group LLP acquired a new position in shares of OMS Energy Technologies in the 3rd quarter valued at $97,000.

About OMS Energy Technologies

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.