Shares of Ossen Innovation Co Ltd (NASDAQ: OSN), engaged in manufacturing
and selling a range of plain surface prestressed steel materials, rare earth
coated and zinc coated pre-stressed steel materials, registered gains during
each of the past two consecutive trading sessions with a significant number of
shares exchanging hands. OSN was the top performer of U.S. industrials sector skyrocketing 52.0% and closed at $1.38 Monday, while recording significant trading volumes of 821,672 shares. OSN broke its key technical resistance level of 200-Day DMA at $1.04. Recently, the company announced its financial results for Q2’14 with EPS of $0.07 against $0.04 in Q2’13 and Net Income of $1.5 million in Q2’14 compared to $0.7 million in the year ago period. During the past 5-trading sessions, OSN gained 67.4% with daily average trading volumes of 187,240 shares, while the stock accumulated over 58.6% during the past one month with daily average trading volumes of 43,269 shares. The stock is 16.0% year-to-date.
Company Description:
Ossen Innovation Co Ltd (NASDAQ: OSN) designs, engineers, manufactures, sells and exports steel materials. The company’s products are used in the construction of railways, highways, bridges, and buildings.
1-Year Stock Chart:
Source: Bloomberg
