The OLB Group, Inc. (NASDAQ:OLB) Sees Large Growth in Short Interest

The OLB Group, Inc. (NASDAQ:OLB – Get Rating) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 261,700 shares, a growth of 90.9% from the March 15th total of 137,100 shares. Currently, 5.7% of the shares of the company are short sold. Based on an average daily trading volume, of 2,000,000 shares, the short-interest ratio is currently 0.1 days.

Shares of OLB opened at $1.49 on Friday. The OLB Group has a fifty-two week low of $1.43 and a fifty-two week high of $12.80. The firm’s 50 day moving average price is $1.80 and its 200 day moving average price is $3.12. The company has a market cap of $21.90 million, a P/E ratio of -2.37 and a beta of 1.68.

In other news, major shareholder John E. Herzog sold 42,353 shares of the company’s stock in a transaction that occurred on Friday, February 11th. The shares were sold at an average price of $1.97, for a total value of $83,435.41. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder John E. Herzog sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 2nd. The stock was sold at an average price of $2.30, for a total transaction of $115,000.00. The disclosure for this sale can be found here. Insiders sold 100,000 shares of company stock valued at $213,041 in the last ninety days. 53.20% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the business. Jane Street Group LLC purchased a new stake in shares of The OLB Group in the 3rd quarter valued at approximately $59,000. Geode Capital Management LLC purchased a new stake in shares of The OLB Group in the 3rd quarter valued at approximately $79,000. Susquehanna International Group LLP purchased a new stake in shares of The OLB Group in the 4th quarter valued at approximately $88,000. Virtu Financial LLC boosted its stake in The OLB Group by 93.7% in the fourth quarter. Virtu Financial LLC now owns 63,891 shares of the company’s stock valued at $169,000 after acquiring an additional 30,908 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in The OLB Group in the fourth quarter valued at $244,000. 7.74% of the stock is currently owned by institutional investors.

The OLB Group Company Profile (Get Rating)

The OLB Group, Inc is a diversified fintech e-commerce merchant services provider and Bitcoin crypto mining enterprise. The Company’s eCommerce platform delivers e-commerce services for a digital commerce solution to over 10,500 merchants in all 50 states. The Company’s wholly owned subsidiary, DMINT, Inc, is engaged in the mining of Bitcoin utilizing low carbon natural gas with over 1,000 application-specific integrated circuit (ASIC)-based S19j Pro 96T mining computers.

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