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Stock News Summary: Ossen Innovation Co., Ltd. (NASDAQ:OSN)

Ossen Innovation Co., Ltd. (NASDAQ:OSN) spotted trading 1.61% off 52-week high price. On the other end, the stock has been noted 239.62% away from the low price over the last 52-weeks. The stock changed 9.09% to recent value of $3.6. The stock transacted 14108897 shares during most recent day however it has an average volume of 34.79K shares. The company has 5.75M of outstanding shares and 0.83M shares were floated in the market.  

 On Aug. 27, 2019, Ossen Innovation Co., Ltd. (NASDAQ:OSN) a China-based manufacturer of an array of plain surface, rare earth and zinc coated pre-stressed steel materials, notified its financial results for the six months ended June 30, 2019.

Because of the lowest Chinese GDP growth rate in recent years during the first half of 2019, our top line decreased slightly. Nonetheless, net income increased by 18.7% as we focused on higher margin products, stated Dr. Liang Tang, Chairman of Ossen Innovation. Looking ahead, we expect to see an increase in investment in infrastructure construction across China. The successful IPO on the Hong Kong Stock Exchange of Pujiang International Group (‘Pujiang’), a Cayman Islands company that indirectly owns 65.9% of the Company’s issued and outstanding ordinary shares, has provided an additional resource of capital for us and is expected to enable us to capture additional opportunities to win new infrastructure projects.

 Its earnings per share (EPS) expected to touch remained 94.20% for this year. OSN has a gross margin of 15.10% and an operating margin of 11.00% while its profit margin remained 7.60% for the last 12 months. 

 According to the most recent quarter its current ratio was 3.7 that represents company’s ability to meet its current financial obligations. The price moved ahead of 39.30% from the mean of 20 days, 55.08% from mean of 50 days SMA and performed 85.88% from mean of 200 days price. Company’s performance for the week was 46.34%, 44.00% for month and YTD performance remained 166.67%.

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