Oblong Inc. (AMEX: OBLG) Is Getting Increasingly Hard To Ignore

DE Stock
DE Stock

Renaissance Technologies LLC recently announced the acquisition of new stake in Oblong Inc. (AMEX:OBLG). The institutional investor has increased its shareholding in the Technology company by 52.06% to 0.12 million shares with purchase of 40550.0 shares. This fresh investment now brings its stake to 2.27% valued currently at $0.39 million. In addition, Citadel Advisors LLC raised its holdings by 604.0 to 10992.0 shares.

With over 1.29 million Oblong Inc. (OBLG) shares trading Monday and a closing price of $2.34 on the day, the dollar volume was approximately $3.02 million. The shares have shown a negative weekly performance of -20.95% and its price on 08/24/20 gained nearly 5.41%. Currently, there are 5.20M common shares owned by the public and among those 3.67M shares have been available to trade.

Insiders at the company have transacted a total of 2 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 2,500 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 6,896 shares.

The top 3 mutual fund holders in Oblong Inc. are Fidelity Extended Market Index Fu, Vanguard Extended Market Index Fu, and Fidelity Total Market Index Fund. Fidelity Extended Market Index Fu owns 31599.0 shares of the company’s stock, all valued at over $0.1 million. Vanguard Extended Market Index Fu bought 3200.0 shares to see its total holdings expand to 12120.0 shares valued at over $40117.0 and representing 0.23% of the shares outstanding. Fidelity Total Market Index Fund now owns shares totaling to 0.03% of the shares outstanding.

Shares of Oblong Inc. (AMEX: OBLG) opened at $2.93, up $0.71 from a prior closing price of $2.22. However, the script later closed the day at $2.34, up 5.41%. The company’s stock has a 5-day price change of -20.95% and 131.68% over the past three months. OBLG shares are trading 68.35% year to date (YTD), with the 12-month market performance up to 251.04% higher. It has a 12-month low price of $0.66 and touched a high of $4.69 over the same period. Currently, 1.29 million shares have been traded, compared to an average intraday trading volume of 672.17K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -22.99%, -1.57%, and 51.65% respectively.

Institutional ownership of Oblong Inc. (AMEX: OBLG) shares accounts for 3.40% of the company’s 5.20M shares outstanding. Mutual fund holders own 12.34%, while other institutional holders and individual stakeholders account for 2.51% and 0.89% respectively.

It has a market capitalization of $13.81M and a beta (3y monthly) value of 1.08. The earnings-per-share (ttm) stands at -$2.02. Price movements for the stock have been influenced by the stock’s volatility, which stands at 16.87% over the week and 12.10% over the month.

Analysts forecast that Oblong Inc. (OBLG) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for Next Year. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.

Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”


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