Omega Flex (NASDAQ:OFLX) Lowered to Hold Rating by StockNews.com

Omega Flex (NASDAQ:OFLX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Omega Flex Trading Up 1.3 %

Omega Flex stock opened at $54.93 on Tuesday. The stock has a fifty day moving average price of $49.75 and a two-hundred day moving average price of $53.55. Omega Flex has a 52-week low of $43.86 and a 52-week high of $85.92.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC increased its stake in shares of Omega Flex by 5.1% in the third quarter. Los Angeles Capital Management LLC now owns 5,560 shares of the industrial products company’s stock valued at $278,000 after buying an additional 270 shares in the last quarter. US Bancorp DE increased its stake in shares of Omega Flex by 38.5% in the third quarter. US Bancorp DE now owns 6,439 shares of the industrial products company’s stock valued at $321,000 after buying an additional 1,789 shares in the last quarter. Creative Planning acquired a new stake in shares of Omega Flex in the third quarter valued at $566,000. Exchange Traded Concepts LLC acquired a new stake in shares of Omega Flex in the third quarter valued at $298,000. Finally, Inspire Investing LLC acquired a new stake in shares of Omega Flex in the third quarter valued at $864,000. 36.06% of the stock is currently owned by institutional investors and hedge funds.

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.