In the latest trading session, 4.45 million Oblong Inc (NASDAQ:OBLG) shares changed hands as the company’s beta touched 3.04. With the company’s most recent per share price at $0.20 changing hands around $0.0 or 0.10% at last look, the market valuation stands at $3.03M. OBLG’s current price is a discount, trading about -2270.0% off its 52-week high of $4.74. The share price had its 52-week low at $0.14, which suggests the last value was 30.0% up since then. When we look at Oblong Inc’s average trading volume, we note the 10-day average is 2.37 million shares, with the 3-month average coming to 2.01 million.
Analysts gave the Oblong Inc (OBLG) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 1 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended OBLG as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Oblong Inc’s EPS for the current quarter is expected to be $0.
Oblong Inc (NASDAQ:OBLG) trade information
Instantly OBLG is in green as seen in intraday trades today. With action 24.28%, the performance over the past five days has been green. The jump to weekly highs of 0.2222 on Friday, 11/17/23 added 0.10% to the stock’s daily price. The company’s shares are showing year-to-date downside of -88.51%, with the 5-day performance at 24.28% in the green. However, in the 30-day time frame, Oblong Inc (NASDAQ:OBLG) is 12.42% up. Looking at the short shares, we see there were 0.15 million shares sold at short interest cover period of 0.03 days.
The consensus price target for the stock as assigned by Wall Street analysts is $15.00, meaning bulls need an upside of 98.67% from its recent market value. According to analyst projections, OBLG’s forecast low is $15.00 with $15.00 as the target high. To hit the forecast high, the stock’s price needs a -7400.0% plunge from its current level, while the stock would need to soar -7400.0% for it to hit the projected low.
Oblong Inc (OBLG) estimates and forecasts
Year-over-year growth is forecast to reach -29.20% down from the last financial year.
Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $1.43 million. The company’s revenue for the corresponding quarters a year ago was $1.97 million and $1.53 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -27.70%.
Oblong Inc is expected to release its next quarterly earnings report on November 14.
Oblong Inc (NASDAQ:OBLG)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 6.65% of Oblong Inc shares while 20.54% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 22.00%. There are 20.54% institutions holding the Oblong Inc stock share, with Foundry Group Next, LLC the top institutional holder. As of Jun 29, 2023, the company held 17.84% of the shares, roughly 0.52 million OBLG shares worth $0.74 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 1.56% or 45574.0 shares worth $64259.0 as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Extended Market Index Fund and Fidelity Extended Market Index Fund. With 45359.0 shares estimated at $63956.0 under it, the former controlled 1.55% of total outstanding shares. On the other hand, Fidelity Extended Market Index Fund held about 0.16% of the shares, roughly 4789.0 shares worth around $8045.0.