OLB Group (NASDAQ:OLB) Shares Down 2.1% – Here’s What Happened

OLB Group, Inc. (NASDAQ:OLB) fell 2.1% during mid-day trading on Tuesday . The company traded as low as $0.9101 and last traded at $0.93. 34,554 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 48,761 shares. The stock had previously closed at $0.95.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of OLB Group in a research report on Monday. Wall Street Zen raised shares of OLB Group from a “sell” rating to a “hold” rating in a research report on Monday, August 25th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

OLB Group Stock Performance

The firm has a fifty day moving average price of $1.23 and a 200 day moving average price of $1.45. The company has a market cap of $8.16 million, a price-to-earnings ratio of -0.26 and a beta of 2.11.

OLB Group (NASDAQ:OLB) last issued its earnings results on Friday, November 14th. The company reported ($0.13) earnings per share for the quarter. The firm had revenue of $2.31 million for the quarter. OLB Group had a negative return on equity of 208.53% and a negative net margin of 92.68%.

Hedge Funds Weigh In On OLB Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. PFG Investments LLC acquired a new position in OLB Group during the second quarter worth approximately $449,000. Avalon Trust Co lifted its position in shares of OLB Group by 100.0% in the third quarter. Avalon Trust Co now owns 72,100 shares of the company’s stock valued at $84,000 after buying an additional 36,050 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of OLB Group during the 3rd quarter worth approximately $38,000. Institutional investors own 3.84% of the company’s stock.

OLB Group Company Profile

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.