Market cap of Oblong Inc. [OBLG] reaches 8.34M – now what?

Oblong Inc. [NASDAQ: OBLG] traded at a high on 10/11/22, posting a 38.63 gain after which it closed the day’ session at $0.23. The company report on August 17, 2022 that Oblong Granted 180-Day Extension by Nasdaq to Regain Compliance with Bid Price Rule.

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Oblong, Inc. (Nasdaq: OBLG) (“Oblong” or the “Company”), the award-winning maker of multi-stream collaboration solutions, today announced that the Company received written notification from the Listing Qualifications Department of The Nasdaq Stock Market, LLC (“Nasdaq”), granting the Company’s request for a 180-day extension to regain compliance with Nasdaq’s minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”). The Company now has until February 13, 2023 to meet the requirement. If at any time prior to February 13, 2023, the bid price of the Company’s Common Stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Company will regain compliance with the Bid Price Rule.

If the Company does not regain compliance with the Bid Price Rule during the additional 180-day extension, Nasdaq will provide written notification to the Company that its Common Stock will be delisted. At that time, the Company may appeal the relevant delisting determination to a hearings panel pursuant to the procedures set forth in the applicable Nasdaq Listing Rules. However, there can be no assurance that, if the Company does appeal the delisting determination by Nasdaq to the hearings panel, that such appeal would be successful.

The results of the trading session contributed to over 16815480 shares changing hands. Over the past one week, the price volatility of Oblong Inc. stands at 35.36% while the volatility over the past one month is 31.36%.

The market cap for OBLG stock reached $8.34 million, with 30.82 million shares outstanding and 29.70 million shares in the current float. Compared to the average trading volume of 562.76K shares, OBLG reached a trading volume of 16815480 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Oblong Inc. [OBLG]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OBLG shares is $1.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OBLG stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for Oblong Inc. is set at 0.06, with the Price to Sales ratio for OBLG stock in the period of the last 12 months amounting to 1.26. The Price to Book ratio for the last quarter was 0.60, with the Price to Cash per share for the same quarter was set at 0.14.

How has OBLG stock performed recently?

Oblong Inc. [OBLG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.09. With this latest performance, OBLG shares dropped by -0.55% in over the last four-week period, additionally sinking by -63.44% over the last 6 months – not to mention a drop of -88.18% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OBLG stock in for the last two-week period is set at 52.11, with the RSI for the last a single of trading hit 54.14, and the three-weeks RSI is set at 50.58 for Oblong Inc. [OBLG]. The present Moving Average for the last 50 days of trading for this stock 0.2453, while it was recorded at 0.1980 for the last single week of trading, and 0.4770 for the last 200 days.

Oblong Inc. [OBLG]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Oblong Inc. [OBLG] shares currently have an operating margin of -148.46 and a Gross Margin at -0.23. Oblong Inc.’s Net Margin is presently recorded at -116.95.

Return on Equity for this stock declined to -38.07, with Return on Assets sitting at -31.35.

Oblong Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.90 and a Current Ratio set at 3.30.

Insider trade positions for Oblong Inc. [OBLG]

There are presently around $4 million, or 54.20% of OBLG stock, in the hands of institutional investors. The top three institutional holders of OBLG stocks are: FOUNDRY GROUP, LLC with ownership of 7,839,509, which is approximately 0% of the company’s market cap and around 3.63% of the total institutional ownership; STEPSTONE GROUP LP, holding 3,692,661 shares of the stock with an approximate value of $0.86 million in OBLG stocks shares; and MORGAN STANLEY, currently with $0.8 million in OBLG stock with ownership of nearly -0.019% of the company’s market capitalization.

Positions in Oblong Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 11 institutional holders increased their position in Oblong Inc. [NASDAQ:OBLG] by around 1,111,172 shares. Additionally, 9 investors decreased positions by around 611,944 shares, while 9 investors held positions by with 14,901,643 shares. The mentioned changes placed institutional holdings at 16,624,759 shares, according to the latest SEC report filing. OBLG stock had 9 new institutional investments in for a total of 1,090,116 shares, while 4 institutional investors sold positions of 212,377 shares during the same period.


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