OLB Group, Inc. (NASDAQ:OLB) Sees Significant Decrease in Short Interest

OLB Group, Inc. (NASDAQ:OLBGet Free Report) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 201,238 shares, a decline of 37.8% from the July 15th total of 323,610 shares. Approximately 3.4% of the shares of the company are sold short. Based on an average trading volume of 120,577 shares, the days-to-cover ratio is presently 1.7 days.

Institutional Trading of OLB Group

A hedge fund recently bought a new position in OLB Group stock. Citadel Advisors LLC purchased a new stake in shares of OLB Group, Inc. (NASDAQ:OLBFree Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 32,703 shares of the company’s stock, valued at approximately $38,000. Citadel Advisors LLC owned approximately 0.37% of OLB Group at the end of the most recent quarter. 3.84% of the stock is currently owned by institutional investors.

OLB Group Stock Performance

Shares of NASDAQ OLB traded up $0.02 during trading hours on Wednesday, hitting $0.28. 119,300 shares of the stock were exchanged, compared to its average volume of 3,734,315. The company’s fifty day simple moving average is $0.35 and its two-hundred day simple moving average is $0.47. The company has a market cap of $6.85 million, a PE ratio of -0.33 and a beta of 2.05. OLB Group has a 1-year low of $0.24 and a 1-year high of $1.80.

OLB Group (NASDAQ:OLBGet Free Report) last issued its earnings results on Friday, August 14th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. OLB Group had a negative return on equity of 80.06% and a negative net margin of 68.26%.The firm had revenue of $1.28 million for the quarter, compared to the consensus estimate of $2.10 million.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of OLB Group in a research note on Monday, August 3rd. Wall Street Zen upgraded OLB Group to a “sell” rating in a research report on Saturday, April 25th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, OLB Group presently has an average rating of “Sell”.

Read Our Latest Analysis on OLB

OLB Group Company Profile

(Get Free Report)

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.

Further Reading

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