Anson Funds Management LP recently announced the acquisition of new stake in Oblong Inc (NASDAQ:OBLG). This fresh investment now brings its stake to 0.58% valued currently at $13589.0. In addition, Renaissance Technologies LLC raised its holdings by 54977.0 to 54977.0 shares.
With over 13.38 million Oblong Inc (OBLG) shares trading Friday and a closing price of $0.20 on the day, the dollar volume was approximately $2.68 million. The shares have shown a negative half year performance of -85.74% and its price on 11/17/23 gained nearly 25.85%. Currently, there are 14.95M common shares owned by the public and among those 14.70M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for OBLG have a consensus price objective of $15.00. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $15.00. The average price target is 98.67% above its recent price level and an upside to the estimated low will see the stock gain 98.67% over that period. But an upside of 98.67% will see the stock hit the forecast high price target while median target price for the stock is $15.00.
Insiders at the company have transacted a total of 19 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 4 of these insider trades were purchases, accounting for 177,564 shares. Insider sales of the common stock occurred on 15 occasions, with total insider shares sold totaling 486,434 shares.
The top 3 mutual fund holders in Oblong Inc are Vanguard Extended Market Index Fu, Fidelity Extended Market Index Fu, and Fidelity Total Market Index Fund. Vanguard Extended Market Index Fu owns 45359.0 shares of the company’s stock, all valued at over $7031.0. Fidelity Total Market Index Fund now owns shares totaling to 0.01% of the shares outstanding.
The company’s stock has a 5-day price change of 26.56% and -75.60% over the past three months. OBLG shares are trading -88.52% year to date (YTD), with the 12-month market performance down to -92.90% lower. It has a 12-month low price of $0.14 and touched a high of $4.74 over the same period. OBLG has an average intraday trading volume of 1.79 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 19.18%, -36.41%, and -84.21% respectively.
Institutional ownership of Oblong Inc (NASDAQ: OBLG) shares accounts for 1.98% of the company’s 14.95M shares outstanding. Mutual fund holders own 1.60%, while other institutional holders and individual stakeholders account for 1.78% and 0.35% respectively.
It has a market capitalization of $3.03M and a beta (3y monthly) value of 2.94. The earnings-per-share (ttm) stands at -$2.27. Price movements for the stock have been influenced by the stock’s volatility, which stands at 16.73% over the week and 14.06% 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 2023. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.1 a year ago.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Oblong Inc (OBLG) as a “Strong Buy” at a consensus score of 1.00. 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.”
