Ossen Innovation (NASDAQ:OSN) Shares Gap Up to $3.68

Ossen Innovation Co Ltd (NASDAQ:OSN)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $3.68, but opened at $4.68. Ossen Innovation shares last traded at $4.60, with a volume of 40,530 shares.

Separately, ValuEngine upgraded Ossen Innovation from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th.

The business has a 50 day simple moving average of $3.49 and a 200-day simple moving average of $2.61. The company has a quick ratio of 3.31, a current ratio of 3.90 and a debt-to-equity ratio of 0.04.

A hedge fund recently bought a new stake in Ossen Innovation stock. Advisor Group Holdings Inc. acquired a new position in shares of Ossen Innovation Co Ltd (NASDAQ:OSN) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 15,000 shares of the construction company’s stock, valued at approximately $33,000. Advisor Group Holdings Inc. owned about 0.23% of Ossen Innovation as of its most recent SEC filing. 1.51% of the stock is currently owned by hedge funds and other institutional investors.

About Ossen Innovation (NASDAQ:OSN)

Ossen Innovation Co, Ltd. engages in the design, manufacture, and sale of pre-stressed steel materials. Its products include plain surface steel wires and strands, and earth coated and zinc-coated pre-stressed steel materials. The company was founded in 2004 and is headquartered in Shanghai, China.

Read More: Why are gap-down stocks important?

Receive News & Ratings for Ossen Innovation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ossen Innovation and related companies with MarketBeat.com's FREE daily email newsletter.