Market cap of Oblong Inc [OBLG] reaches 2.85M – now what?

Oblong Inc [NASDAQ: OBLG] stock went on an upward path that rose over 11.19% on Wednesday, amounting to a one-week price increase of more than 25.45%. The company report on May 30, 2023 at 8:00 AM that Oblong Appoints Two New Directors to its Board.

Jonathan Schechter and Robert Weinstein Join Oblong’s Board of Directors.

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Oblong, Inc. (Nasdaq: OBLG) (“Oblong” or the “Company”), the award-winning maker of multi-stream collaboration solutions, today appointed two new directors to its board. Jonathan Schechter, Partner, The Special Equities Group, and Robert Weinstein, Chief Financial Officer, Synaptogenix, Inc. have joined Oblong’s board of directors. In addition, Jim Lusk and Matthew Blumberg have retired from the Oblong board.

Over the last 12 months, OBLG stock dropped by -94.78%. The one-year Oblong Inc stock forecast points to a potential upside of 98.73. The average equity rating for OBLG stock is currently 1.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.85 million, with 15.17 million shares outstanding and 14.22 million shares in the current float. Compared to the average trading volume of 1.68M shares, OBLG stock reached a trading volume of 3895137 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 $15.00 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 1.00. 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 0.04, with the Price to Sales ratio for OBLG stock in the period of the last 12 months amounting to 0.62. The Price to Book ratio for the last quarter was 0.07, with the Price to Cash per share for the same quarter was set at 0.45.

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 25.45. With this latest performance, OBLG shares dropped by -37.06% in over the last four-week period, additionally sinking by -87.73% over the last 6 months – not to mention a drop of -94.78% 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 34.69, with the RSI for the last a single of trading hit 44.41, and the three-weeks RSI is set at 30.94 for Oblong Inc [OBLG]. The present Moving Average for the last 50 days of trading for this stock 0.3845, while it was recorded at 0.1728 for the last single week of trading, and 1.3603 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 -160.06 and a Gross Margin at -6.52. Oblong Inc’s Net Margin is presently recorded at -400.68.

Return on Total Capital for OBLG is now -58.28, given the latest momentum, and Return on Invested Capital for the company is -149.43. Return on Equity for this stock declined to -150.72, with Return on Assets sitting at -128.06. When it comes to the capital structure of this company, Oblong Inc [OBLG] has a Total Debt to Total Equity ratio set at 6.52. Additionally, OBLG Total Debt to Total Capital is recorded at 6.13, with Total Debt to Total Assets ending up at 4.17. Long-Term Debt to Equity for the company is recorded at 0.47, with the Long-Term Debt to Total Capital now at 0.44.

Reflecting on the efficiency of the workforce at the company, Oblong Inc [OBLG] managed to generate an average of -$997,318 per employee. Receivables Turnover for the company is 6.93 with a Total Asset Turnover recorded at a value of 0.32.Oblong Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.62 and a Current Ratio set at 6.96.

Oblong Inc [OBLG] Institutonal Ownership Details

The top three institutional holders of OBLG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in OBLG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in OBLG stock with ownership which is approximately 5.7994%.