Omni-Lite Industries Canada Inc. (OTCMKTS:OLNCF) Sees Significant Growth in Short Interest

Omni-Lite Industries Canada Inc. (OTCMKTS:OLNCFGet Free Report) was the target of a significant increase in short interest in 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. Currently, 0.1% of the company’s stock are short sold. Based on an average trading volume of 9,080 shares, the short-interest ratio is presently 0.9 days.

Omni-Lite Industries Canada Trading Down 2.1%

Shares of OTCMKTS OLNCF opened at $1.91 on Friday. The stock has a market cap of $29.57 million, a P/E ratio of 23.88 and a beta of 0.47. Omni-Lite Industries Canada has a 12-month low of $0.90 and a 12-month high of $2.14. The business’s fifty day simple moving average is $1.61 and its 200-day simple moving average is $1.27.

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

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 bought a new position in shares of Omni-Lite Industries Canada Inc. (OTCMKTS:OLNCFFree Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Omni-Lite Industries Canada Company Profile

(Get Free Report)

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.

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