Ostin Technology Group Co. Ltd. [OST] Stock trading around $3.80 per share: What’s Next?


Ostin Technology Group Co. Ltd. [NASDAQ: OST] loss -20.00% on the last trading session, reaching $3.80 price per share at the time. The company report on April 29, 2022 that Ostin Technology Group Co., Ltd. Announces Closing of Initial Public Offering, Including Full Exercise of the Over-allotment Option.

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Ostin Technology Group Co., Ltd. (the “Company”) (NASDAQ: OST), a supplier of display modules and polarizers in China, today announced the closing of its initial public offering (the “Offering”) of 3,881,250 ordinary shares, including 506,250 ordinary shares comprising the underwriters’ over-allotment option which was exercised in full, at a public offering price of $4.00 per ordinary share, for aggregate gross proceeds of $15,525,000 before deducting underwriting discounts and commissions and offering expenses. The Offering closed on April 29, 2022 and the ordinary shares began trading on April 27, 2022 on The Nasdaq Capital Market under the ticker symbol “OST.”.

Prime Number Capital LLC acted as lead book-running manager for the offering. Shengang Securities Company Limited acted as joint book-runner. Ellenoff Grossman & Schole LLP acted as counsel to the Company, and Hunter Taubman Fischer & Li LLC acted as counsel to the underwriters. King & Wood Mallesons acted as PRC counsel to the Company.

Ostin Technology Group Co. Ltd. represents 13.50 million in outstanding shares, while the company has a total market value of $51.30 million with the latest information. OST stock price has been found in the range of $3.71 to $4.29.

If compared to the average trading volume of 17.13M shares, OST reached a trading volume of 4839421 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Ostin Technology Group Co. Ltd. [OST]:

The Average True Range (ATR) for Ostin Technology Group Co. Ltd. is set at 13.09, with the Price to Sales ratio for OST stock in the period of the last 12 months amounting to 0.31. The Price to Book ratio for the last quarter was 2.72.

Trading performance analysis for OST stock

Ostin Technology Group Co. Ltd. [OST] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -90.42.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum.