OMS Energy Technologies (NASDAQ:OMSE) Trading 2% Higher – Time to Buy?

Shares of OMS Energy Technologies Inc. (NASDAQ:OMSE) were up 2% on Thursday . The stock traded as high as $4.70 and last traded at $4.57. 140,502 shares were traded during trading, an increase of 558% from the average daily volume of 21,347 shares. The stock had previously closed at $4.48.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Zacks Research raised shares of OMS Energy Technologies to a “hold” rating in a report on Tuesday, August 4th. Weiss Ratings upgraded OMS Energy Technologies from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

OMS Energy Technologies Price Performance

The company’s 50-day simple moving average is $4.28 and its 200-day simple moving average is $4.45.

Institutional Investors Weigh In On OMS Energy Technologies

Large investors have recently made changes to their positions in the company. Ramsey Quantitative Systems acquired a new position in shares of OMS Energy Technologies during the 2nd quarter valued at about $143,000. Renaissance Technologies LLC acquired a new position in OMS Energy Technologies during the first quarter valued at approximately $44,000. XTX Topco Ltd bought a new position in shares of OMS Energy Technologies in the fourth quarter valued at approximately $63,000. Marex Group plc acquired a new stake in shares of OMS Energy Technologies in the fourth quarter worth $127,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of OMS Energy Technologies in the third quarter worth $97,000.

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.