Oblong (NYSE:OBLG) Trading Down 3.5%

Oblong, Inc. (NYSE:OBLGGet Rating)’s stock price fell 3.5% on Tuesday . The stock traded as low as $0.19 and last traded at $0.19. 30,800 shares were traded during trading, a decline of 78% from the average session volume of 140,599 shares. The stock had previously closed at $0.20.

Oblong Stock Performance

The stock has a market cap of $5.61 million, a price-to-earnings ratio of -0.33 and a beta of 1.99. The company has a 50-day simple moving average of $0.27 and a two-hundred day simple moving average of $0.38.

Oblong (NYSE:OBLGGet Rating) last released its quarterly earnings results on Wednesday, August 10th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.02. The business had revenue of $1.33 million during the quarter, compared to the consensus estimate of $1.45 million. Oblong had a negative return on equity of 54.82% and a negative net margin of 255.30%. As a group, sell-side analysts predict that Oblong, Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Trading of Oblong

An institutional investor recently bought a new position in Oblong stock. Foundry Group LLC acquired a new position in shares of Oblong, Inc. (NYSE:OBLGGet Rating) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,839,509 shares of the company’s stock, valued at approximately $8,075,000. Oblong comprises approximately 1.8% of Foundry Group LLC’s holdings, making the stock its 4th biggest position. Foundry Group LLC owned 25.44% of Oblong at the end of the most recent reporting period. 53.96% of the stock is currently owned by hedge funds and other institutional investors.

Oblong Company Profile

(Get Rating)

Oblong Inc, together with its subsidiaries, provides multi-stream collaboration technologies and managed services for video collaboration and network applications in the United States and internationally. The company operates in two segments, Collaboration Products and Managed Services. Its flagship product is Mezzanine that enables visual collaboration across multi-users, multi-screens, multi-devices, and multi-locations for video telepresence, laptop and application sharing, and whiteboard sharing and slides applications.

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