OLB Group, Inc. (NASDAQ:OLB) Sees Significant Drop in Short Interest

OLB Group, Inc. (NASDAQ:OLB) saw a significant decline in short interest in May. As of May 15th, there was short interest totaling 98,614 shares, a decline of 84.4% from the April 30th total of 630,759 shares. Currently, 1.7% of the shares of the stock are sold short. Based on an average daily volume of 355,958 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On OLB Group

An institutional investor recently bought a new position in OLB Group stock. Citadel Advisors LLC acquired a new stake in OLB Group, Inc. (NASDAQ:OLB) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 32,703 shares of the company’s stock, valued at approximately $38,000. Citadel Advisors LLC owned approximately 0.37% of OLB Group at the end of the most recent reporting period. Hedge funds and other institutional investors own 3.84% of the company’s stock.

OLB Group Stock Up 5.4%

NASDAQ OLB traded up $0.02 on Thursday, reaching $0.47. The company had a trading volume of 171,314 shares, compared to its average volume of 5,691,971. OLB Group has a 52 week low of $0.31 and a 52 week high of $2.50. The stock’s 50 day moving average is $0.49 and its 200-day moving average is $0.67. The stock has a market cap of $6.86 million, a price-to-earnings ratio of -0.37 and a beta of 2.04.

OLB Group (NASDAQ:OLB) last issued its earnings results on Friday, May 15th. The company reported ($0.08) EPS for the quarter. OLB Group had a negative net margin of 73.19% and a negative return on equity of 96.26%. The firm had revenue of $1.66 million during the quarter.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on OLB shares. Wall Street Zen upgraded OLB Group to a “sell” rating in a research report on Saturday, April 25th. Weiss Ratings restated a “sell (e+)” rating on shares of OLB Group in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, OLB Group presently has an average rating of “Sell”.

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. www.olb.com and www.olb.com/investors-data.