OMS Energy Technologies (NASDAQ:OMSE) Shares Up 2% – Here’s What Happened

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

Analysts Set New Price Targets

OMSE has been the subject of a number of research reports. Weiss Ratings upgraded OMS Energy Technologies from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, June 1st. Zacks Research upgraded shares of OMS Energy Technologies to a “hold” rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, OMS Energy Technologies currently has an average rating of “Reduce”.

OMS Energy Technologies Trading Up 2.0%

The stock’s 50 day simple moving average is $4.26 and its two-hundred day simple moving average is $4.45.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC bought a new stake in OMS Energy Technologies in the third quarter worth $474,000. Two Sigma Investments LP bought a new position in shares of OMS Energy Technologies during the third quarter valued at $310,000. Ramsey Quantitative Systems purchased a new position in shares of OMS Energy Technologies in the 2nd quarter worth about $143,000. Marex Group plc purchased a new position in shares of OMS Energy Technologies in the 4th quarter worth about $127,000. Finally, Susquehanna International Group LLP bought a new position in OMS Energy Technologies in the 3rd quarter worth about $97,000.

About OMS Energy Technologies

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.