The stock of Omega Flex, Inc. (NASDAQ:OFLX) reached all time high today, Nov, 22 and still has $46.38 target or 4.00% above today’s $44.60 share price. This indicates more upside for the $475.74M company. This technical setup was reported by Barchart.com. If the $46.38 PT is reached, the company will be worth $19.03 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 36,921 shares traded hands or 332.89% up from the average. Omega Flex, Inc. (NASDAQ:OFLX) has risen 22.16% since April 20, 2016 and is uptrending. It has outperformed by 17.60% the S&P500.
According to Zacks Investment Research, “Omega Flex is engaged in the manufacture and sale of flexible metal hose for applications in conveying various liquids and gases within a number of industries. Co.’s product lines include corrugated metal hoses in a range of sizes and alloys, including three grades of stainless steel, bronze, Inconel and Hastelloy. Co. also manufactures a range of pressure reinforcing braids for its hoses in both metallic and synthetic constructions. These products are used primarily for the processing industries, transportation industry, medical and semiconductor markets, and for instrumentation, as well as the construction industry.”
Insitutional Activity: The institutional sentiment increased to 1.5 in Q2 2016. Its up 0.61, from 0.89 in 2016Q1. The ratio increased, as 3 funds sold all Omega Flex, Inc. shares owned while 16 reduced positions. 4 funds bought stakes while 13 increased positions. They now own 1.69 million shares or 6.66% more from 1.58 million shares in 2016Q1.
Geode Capital Management Limited last reported 28,112 shares in the company. Ny State Common Retirement Fund accumulated 0% or 2,700 shares. Teachers Inc accumulated 0% or 4,267 shares. Commercial Bank Of Montreal Can last reported 24 shares in the company. Morgan Stanley has 1,800 shares for 0% of their US portfolio. Ranger Invest Management Lp has invested 0.05% of its portfolio in Omega Flex, Inc. (NASDAQ:OFLX). Manufacturers Life Insurance The owns 55 shares or 0% of their US portfolio. Citigroup Inc owns 293 shares or 0% of their US portfolio. Strs Ohio reported 8,200 shares or 0% of all its holdings. The Illinois-based Ativo Management Lc has invested 0.22% in Omega Flex, Inc. (NASDAQ:OFLX). Vanguard Gp Inc accumulated 97,429 shares or 0% of the stock. California State Teachers Retirement Sys has invested 0% of its portfolio in Omega Flex, Inc. (NASDAQ:OFLX). Moreover, State Street has 0% invested in Omega Flex, Inc. (NASDAQ:OFLX) for 40,020 shares. Blackrock Inv Mgmt Ltd Liability Corp has 10,299 shares for 0% of their US portfolio. Tiaa Cref Limited Company holds 0% of its portfolio in Omega Flex, Inc. (NASDAQ:OFLX) for 9,157 shares.
More recent Omega Flex, Inc. (NASDAQ:OFLX) news were published by: Globenewswire.com which released: “Omega Flex, Inc. Announces 3rd Quarter 2016 Earnings” on October 19, 2016. Also Globenewswire.com published the news titled: “U.S. District Court Dismisses Frivolous Lawsuit Against Omega Flex, Inc.” on December 18, 2014. Seekingalpha.com‘s news article titled: “Omega Flex, Inc. – A Market Leader You’ve Never Heard Of” with publication date: February 08, 2016 was also an interesting one.
OFLX Company Profile
Omega Flex, Inc., incorporated on February 6, 1975, is a maker of flexible metal hose, which is used in a range of applications to carry gases and liquids within their particular applications. The Firm operates in the segment of manufacture and sale of flexible metal hose and accessories. The Firm is engaged in various markets, including construction, manufacturing, transportation, petrochemical, pharmaceutical and other industries.
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