Oblong Inc. [OBLG] moved up 54.38: Why It’s Important

Oblong Inc. [NASDAQ: OBLG] stock went on an upward path that rose over 54.38% on Monday, amounting to a one-week price increase of more than 113.09%. 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.

Over the last 12 months, OBLG stock dropped by -82.54%. The one-year Oblong Inc. stock forecast points to a potential upside of 64.0. The average equity rating for OBLG stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $10.96 million, with 30.82 million shares outstanding and 29.70 million shares in the current float. Compared to the average trading volume of 945.28K shares, OBLG stock reached a trading volume of 8891659 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 0.07, with the Price to Sales ratio for OBLG stock in the period of the last 12 months amounting to 1.66. The Price to Book ratio for the last quarter was 0.92, with the Price to Cash per share for the same quarter was set at 0.17.

OBLG Stock Performance Analysis:

Oblong Inc. [OBLG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 113.09. With this latest performance, OBLG shares gained by 60.37% in over the last four-week period, additionally sinking by -30.96% over the last 6 months – not to mention a drop of -82.54% 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 62.90, with the RSI for the last a single of trading hit 67.42, and the three-weeks RSI is set at 59.90 for Oblong Inc. [OBLG]. The present Moving Average for the last 50 days of trading for this stock 0.2404, while it was recorded at 0.2477 for the last single week of trading, and 0.4618 for the last 200 days.

Insight into Oblong Inc. 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.

Oblong Inc. [OBLG] Insider Position Details

There are presently around $6 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 9.90% of the total institutional ownership; STEPSTONE GROUP LP, holding 3,692,661 shares of the stock with an approximate value of $1.33 million in OBLG stocks shares; and MORGAN STANLEY, currently with $1.23 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, 8 investors decreased positions by around 444,415 shares, while 9 investors held positions by with 15,069,172 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 3 institutional investors sold positions of 44,848 shares during the same period.

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