Oblong Inc [OBLG] fell -88.52% so far this year. What now?

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Oblong Inc [NASDAQ: OBLG] gained 25.85% or 0.04 points to close at $0.20 with a heavy trading volume of 13377325 shares. The company report on November 14, 2023 at 7:30 AM that Oblong Announces Financial Results for Third Quarter 2023 and Provides Business Update.

Oblong, Inc. (Nasdaq: OBLG) (“Oblong” or the “Company”), a burgeoning player in the technology sector, is pleased to announce significant strategic shifts and a reinforced commitment to sustainable growth. Over the past year, we believe the Company has diligently optimized its operations, enhanced efficiency, and streamlined expenditures to position itself as a lean and agile innovator in the tech landscape.

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With a series of decisive cost-reduction measures, we believe Oblong has successfully rationalized its cost structure. This disciplined approach to financial management has resulted in a more robust and focused operation, ensuring that resources are aligned with the company’s core mission to deliver innovative technology solutions.

It opened the trading session at $0.1628, the shares rose to $0.217 and dropped to $0.1514, the range by which the price of stock traded the whole day. The daily chart for OBLG points out that the company has recorded -85.74% loss over the past six months. However, it is still -42.86% lower than its most recent low trading price.

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If we look at the average trading volume of 1.79M shares, OBLG reached to a volume of 13377325 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $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 0.03, with the Price to Sales ratio for OBLG stock in the period of the last 12 months amounting to 0.71. The Price to Book ratio for the last quarter was 0.13, with the Price to Cash per share for the same quarter was set at 0.45.

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Trading performance analysis for OBLG stock

Oblong Inc [OBLG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 26.56. With this latest performance, OBLG shares gained by 8.46% in over the last four-week period, additionally sinking by -85.74% over the last 6 months – not to mention a drop of -92.90% 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 46.05, with the RSI for the last a single of trading hit 59.26, and the three-weeks RSI is set at 38.36 for Oblong Inc [OBLG]. The present Moving Average for the last 50 days of trading for this stock 0.3089, while it was recorded at 0.1696 for the last single week of trading, and 1.2666 for the last 200 days.

Oblong Inc [OBLG]: A deeper dive into fundamental analysis

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 5.67 and a Current Ratio set at 5.92.

An analysis of Institutional ownership at Oblong Inc [OBLG]

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%.

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