OMS Energy Technologies Inc. (NASDAQ:OMSE) Sees Significant Drop in Short Interest

OMS Energy Technologies Inc. (NASDAQ:OMSE) was the target of a large drop in short interest in December. As of December 15th, there was short interest totaling 19,585 shares, a drop of 21.4% from the November 30th total of 24,917 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily volume of 28,899 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily volume of 28,899 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.0% of the company’s stock are sold short.

OMS Energy Technologies Trading Down 2.3%

OMSE stock traded down $0.10 during midday trading on Tuesday, reaching $4.30. 31,584 shares of the company’s stock traded hands, compared to its average volume of 95,011. The company has a 50-day simple moving average of $4.92 and a two-hundred day simple moving average of $5.66. OMS Energy Technologies has a 1-year low of $3.27 and a 1-year high of $9.86.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Americana Partners LLC acquired a new stake in shares of OMS Energy Technologies during the 2nd quarter worth approximately $75,000. Sanders Morris Harris LLC bought a new position in OMS Energy Technologies in the third quarter valued at approximately $73,000. Citadel Advisors LLC acquired a new stake in OMS Energy Technologies during the 3rd quarter worth $80,000. Geode Capital Management LLC acquired a new stake in OMS Energy Technologies during the 2nd quarter worth $148,000. Finally, Susquehanna International Group LLP bought a new stake in shares of OMS Energy Technologies during the 3rd quarter valued at $97,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e)” rating on shares of OMS Energy Technologies in a report on Monday. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $10.00.

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.