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Oblong Inc. (NASDAQ:OBLG) Shares Plunged -10.42% In A Week – But Will They Keep Going Up?

In last trading session, Oblong Inc. (NASDAQ:OBLG) saw 0.13 million shares changing hands with its beta currently measuring 2.48. Company’s recent per share price level of $0.17 trading at $0.0 or 0.12% at ring of the bell on the day assigns it a market valuation of $5.29M. That closing price of OBLG’s stock is at a discount of -764.71% from its 52-week high price of $1.47 and is indicating a premium of 23.53% from its 52-week low price of $0.13. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.21 million shares which gives us an average trading volume of 1.55 million if we extend that period to 3-months.

For Oblong Inc. (OBLG), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 2.00. Splitting up the data highlights that, out of 1 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 1 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.1 in the current quarter.

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Oblong Inc. (NASDAQ:OBLG) trade information

Upright in the green during last session for gaining 0.12%, in the last five days OBLG remained trading in the red while hitting it’s week-highest on Thursday, 11/17/22 when the stock touched $0.17 price level, adding 17.07% to its value on the day. Oblong Inc.’s shares saw a change of -83.47% in year-to-date performance and have moved -10.42% in past 5-day. Oblong Inc. (NASDAQ:OBLG) showed a performance of -35.17% in past 30-days. Number of shares sold short was 0.28 million shares which calculate 0.11 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $1.00 to the stock, which implies a rise of 83.0% to its current value. Analysts have been projecting $1.00 as a low price target for the stock while placing it at a high target of $1.00. It follows that stock’s current price would drop -488.24% in reaching the projected high whereas dropping to the targeted low would mean a loss of -488.24% for stock’s current value.

Oblong Inc. (OBLG) estimates and forecasts

Statistics highlight that Oblong Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -50.57% of value to its shares in past 6 months, showing an annual growth rate of -21.62% while that of industry is 5.20. Apart from that, the company came lowering its revenue forecast for fiscal year 2022. This year revenue growth is estimated to fall -18.90% from the last financial year’s standing.

1 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $1.56 million for the same. And 1 analysts are in estimates of company making revenue of $1.74 million in the next quarter that will end on Dec 2022.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 18.10% during past 5 years.

OBLG Dividends

Oblong Inc. is more likely to be releasing its next quarterly report between November 08 and November 14 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Oblong Inc. (NASDAQ:OBLG)’s Major holders

Insiders are in possession of 3.63% of company’s total shares while institution are holding 54.20 percent of that, with stock having share float percentage of 56.24%. Investors also watch the number of corporate investors in a company very closely, which is 54.20% institutions for Oblong Inc. that are currently holding shares of the company. Foundry Group, LLC is the top institutional holder at OBLG for having 7.84 million shares of worth $2.43 million. And as of Jun 29, 2022, it was holding 25.44% of the company’s outstanding shares.

The second largest institutional holder is StepStone Group LP, which was holding about 3.69 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 11.98% of outstanding shares, having a total worth of $1.14 million.

On the other hand, Fidelity Extended Market Index Fund and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 73548.0 shares of worth $22799.0 or 0.24% of the total outstanding shares. The later fund manager was in possession of 68542.0 shares on Jun 29, 2022, making its stake of worth around $21248.0 in the company or a holder of 0.22% of company’s stock.

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