Shares last traded at $1.80 barely above $1.69, the stock’s 50 day moving average and much lower than the 200 day moving average of $2.02. The 50 day moving average went up $0.11 or +6.38% and the 200 day average went down $-0.22 or -10.71%. (NASDAQ:OSN) shares saw light trading volume with 374 shares changing hands by the end of trading on Tuesday. Overall, volume was down 95.29% under the stocks normal daily volume.
Traders are more bearish on Ossen Innovation Co., Ltd. – Am of late at least if you consider the uptick in short interest. The company experienced a rise in short interest of 36.62% as of the latest report on September 29, 2017. Short interest grew 2,835 over that timeframe. The days to cover increased to 2.0 and the short interest percentage is 0.00% as of September 29.
The following firms have recently changed their position in OSN. Citadel Advisors LLC trimmed its stake by shedding 7,471 shares a decrease of 31.1% as of 03/31/2016. Citadel Advisors LLC owns 16,554 shares with a value of $13,000. The value of the position overall is down by 27.8%.
The P/E ratio is 2.69 and the market cap of the company is 11.87M.
Ossen Innovation Co., Ltd., launched on January 21, 2010, is a holding company. The Company manufactures and sells an array of plain surface prestressed steel materials, and rare earth coated and zinc coated prestressed steel materials. The Business’s materials are used in the construction of bridges, highways and other infrastructure projects in the People’s Republic of China and internationally. Its facilities are located in Maanshan City, Anhui Province and in Jiujiang City, Jiangxi Province, in the People’s Republic of China. Its pre-stressed steel materials are categorized as plain surface products and coated products. Its products are marketed under the Ossen brand name both domestically and internationally..