Orbital Infrastructure Group Inc. [NASDAQ: OIG] plunged by -$0.01 during the normal trading session on Tuesday and reaching a high of $0.1095 during the day while it closed the day at $0.09. The company report on April 18, 2023 that Orbital Infrastructure Group Announces Results of Special Meeting of Stockholders.
Shareholders Approved Reverse Split Proposal.
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Orbital Infrastructure Group, Inc. (“OIG”) (Nasdaq: OIG), (“the Company”), today announced that at the Special Meeting of Shareholders for Orbital Infrastructure Group, Inc. on April 18, 2023, the Company’s shareholders approved all proposals presented including: Proposal 1, an amendment to our Certificate of Formation to effect a reverse stock split of our outstanding Common Stock at a reverse stock split ratio ranging from any whole number between 1-for-10 and 1-for-40, subject to and as determined by the Board of Directors. The board of directors resolved that pursuant to the proposal approved by the shareholders of the Company on April 18, 2023, effective April 21, 2023, the Certificate of Formation shall be amended to effect a reverse stock split of our outstanding Common Stock at a reverse stock split ratio of one share for forty shares (1:40) by adding the following paragraph 3 (Common Stock) to Article IV (Capital) referring to the number of shares with par value the following text:.
Orbital Infrastructure Group Inc. stock has also loss -13.89% of its value over the past 7 days. However, OIG stock has declined by -58.00% in the 3 months of the year. Over the past six months meanwhile, it has lost -75.52% and lost -53.10% year-on date.
The market cap for OIG stock reached $18.57 million, with 138.62 million shares outstanding and 123.10 million shares in the current float. Compared to the average trading volume of 1.13M shares, OIG reached a trading volume of 3693506 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Orbital Infrastructure Group Inc. [OIG]:
The Average True Range (ATR) for Orbital Infrastructure Group Inc. is set at 0.01, with the Price to Sales ratio for OIG stock in the period of the last 12 months amounting to 0.06.
OIG stock trade performance evaluation
Orbital Infrastructure Group Inc. [OIG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.89. With this latest performance, OIG shares dropped by -21.69% in over the last four-week period, additionally sinking by -75.52% over the last 6 months – not to mention a drop of -94.15% 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 OIG stock in for the last two-week period is set at 30.91, with the RSI for the last a single of trading hit 26.20, and the three-weeks RSI is set at 33.44 for Orbital Infrastructure Group Inc. [OIG]. The present Moving Average for the last 50 days of trading for this stock 0.1397, while it was recorded at 0.1021 for the last single week of trading, and 0.3700 for the last 200 days.
Orbital Infrastructure Group Inc. [OIG]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Orbital Infrastructure Group Inc. [OIG] shares currently have an operating margin of -22.82 and a Gross Margin at -8.12. Orbital Infrastructure Group Inc.’s Net Margin is presently recorded at -85.00.
Orbital Infrastructure Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.30.
Earnings per share (EPS) analysis for Orbital Infrastructure Group Inc. [OIG] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OIG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Orbital Infrastructure Group Inc. go to 25.00%.
Orbital Infrastructure Group Inc. [OIG]: Insider Ownership positions
There are presently around $2 million, or 13.80% of OIG stock, in the hands of institutional investors. The top three institutional holders of OIG stocks are: ANGELO GORDON & CO LP with ownership of 7,152,075, which is approximately 166.071% of the company’s market cap and around 2.70% of the total institutional ownership; VANGUARD GROUP INC, holding 3,591,571 shares of the stock with an approximate value of $0.36 million in OIG stocks shares; and GW HENSSLER & ASSOCIATES LTD, currently with $0.28 million in OIG stock with ownership of nearly 14.093% of the company’s market capitalization.
Positions in Orbital Infrastructure Group Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 19 institutional holders increased their position in Orbital Infrastructure Group Inc. [NASDAQ:OIG] by around 8,620,233 shares. Additionally, 22 investors decreased positions by around 2,860,765 shares, while 14 investors held positions by with 11,644,799 shares. The mentioned changes placed institutional holdings at 23,125,797 shares, according to the latest SEC report filing. OIG stock had 8 new institutional investments in for a total of 205,596 shares, while 10 institutional investors sold positions of 1,060,639 shares during the same period.