OLB Group (NASDAQ:OLB) Shares Down 3.1% – Here’s What Happened

OLB Group, Inc. (NASDAQ:OLB)’s share price fell 3.1% on Thursday . The stock traded as low as $0.60 and last traded at $0.6047. 78,716 shares traded hands during mid-day trading, an increase of 42% from the average session volume of 55,597 shares. The stock had previously closed at $0.6239.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of OLB Group in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

OLB Group Stock Performance

The stock has a market capitalization of $5.31 million, a PE ratio of -0.17 and a beta of 2.05. The firm has a 50 day moving average of $0.93 and a 200-day moving average of $1.25.

OLB Group (NASDAQ:OLB) last issued its earnings results on Friday, November 14th. The company reported ($0.13) earnings per share for the quarter. The business had revenue of $2.31 million during the quarter. OLB Group had a negative net margin of 92.68% and a negative return on equity of 208.53%.

Institutional Investors Weigh In On OLB Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC acquired a new position in shares of OLB Group in the third quarter worth $38,000. Avalon Trust Co boosted its position in OLB Group by 100.0% during the third quarter. Avalon Trust Co now owns 72,100 shares of the company’s stock valued at $84,000 after purchasing an additional 36,050 shares during the last quarter. Finally, PFG Investments LLC purchased a new position in OLB Group in the second quarter valued at about $449,000. Hedge funds and other institutional investors own 3.84% of the company’s stock.

About OLB Group

The OLB Group, Inc is a diversified fintech e-commerce merchant services provider and Bitcoin crypto mining enterprise. The Company’s eCommerce platform delivers e-commerce services for a digital commerce solution to over 10,500 merchants in all 50 states. The Company’s wholly owned subsidiary, DMINT, Inc, is engaged in the mining of Bitcoin utilizing low carbon natural gas with over 1,000 application-specific integrated circuit (ASIC)-based S19j Pro 96T mining computers. www.olb.com and www.olb.com/investors-data.