ValuEngine lowered shares of Ossen Innovation (NASDAQ:OSN) from a hold rating to a sell rating in a report released on Thursday morning, ValuEngine reports.

OSN traded up $0.11 on Thursday, hitting $2.88. 36,324 shares of the company’s stock traded hands, compared to its average volume of 71,789. The company’s 50 day simple moving average is $2.38 and its 200-day simple moving average is $2.51. Ossen Innovation has a one year low of $1.50 and a one year high of $7.00. The company has a quick ratio of 3.81, a current ratio of 4.18 and a debt-to-equity ratio of 0.05.

A hedge fund recently raised its stake in Ossen Innovation stock. Renaissance Technologies LLC raised its position in shares of Ossen Innovation Co Ltd (NASDAQ:OSN) by 142.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,207 shares of the construction company’s stock after buying an additional 59,401 shares during the quarter. Renaissance Technologies LLC owned about 1.53% of Ossen Innovation worth $312,000 as of its most recent SEC filing. 1.62% of the stock is currently owned by institutional investors.

About Ossen Innovation

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.

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