Omni-Lite Industries Canada Inc. (OTCMKTS:OLNCF) Short Interest Update

Omni-Lite Industries Canada Inc. (OTCMKTS:OLNCF) was the target of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 8,024 shares, an increase of 99.4% from the July 30th total of 4,024 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 9,080 shares, the days-to-cover ratio is presently 0.9 days.

Hedge Funds Weigh In On Omni-Lite Industries Canada

A hedge fund recently bought a new stake in Omni-Lite Industries Canada stock. Bellars Harris Wealth Management LLC acquired a new stake in shares of Omni-Lite Industries Canada Inc. (OTCMKTS:OLNCF) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 12,198 shares of the industrial products company’s stock, valued at approximately $4,450,000. Bellars Harris Wealth Management LLC owned 0.08% of Omni-Lite Industries Canada at the end of the most recent quarter.

Omni-Lite Industries Canada Price Performance

Shares of OTCMKTS OLNCF remained flat at $1.91 during midday trading on Monday. 100 shares of the stock traded hands, compared to its average volume of 7,417. The company has a 50-day moving average price of $1.61 and a two-hundred day moving average price of $1.27. Omni-Lite Industries Canada has a 12-month low of $0.90 and a 12-month high of $2.14. The stock has a market capitalization of $29.57 million, a PE ratio of 23.88 and a beta of 0.47.

Omni-Lite Industries Canada (OTCMKTS:OLNCF) last announced its earnings results on Wednesday, August 19th. The industrial products company reported $0.03 EPS for the quarter. Omni-Lite Industries Canada had a net margin of 6.33% and a return on equity of 7.48%. The business had revenue of $4.80 million during the quarter.

About Omni-Lite Industries Canada

Omni-Lite Industries Canada, trading under the symbol OLNCF on the OTC Markets, is a designer and manufacturer of advanced polymer composite and carbon-fiber components for military, industrial and specialty vehicle applications. The company’s proprietary Fiber-Weld™ polymer composite wheel assemblies offer substantial weight savings, superior fatigue life and corrosion resistance compared with conventional steel wheels. In addition to its core wheel products, Omni-Lite produces carbon-fiber drive shafts, structural cross-members and custom injection-molded components engineered for demanding environments.

Founded in 1988 and headquartered in Mississauga, Ontario, Omni-Lite maintains production facilities in both Canada and the United States.