Peter Holst Acquires 10,000 Shares of Oblong (NASDAQ:OBLG) Stock

Oblong, Inc. (NASDAQ:OBLG) CEO Peter Holst acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was acquired at an average price of $1.84 per share, with a total value of $18,400.00. Following the acquisition, the chief executive officer directly owned 10,544 shares of the company’s stock, valued at approximately $19,400.96. This represents a 1,838.24% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Oblong Stock Up 5.4%

Oblong stock opened at $1.96 on Wednesday. The stock has a market capitalization of $6.29 million, a price-to-earnings ratio of -1.15 and a beta of 4.33. Oblong, Inc. has a twelve month low of $1.76 and a twelve month high of $5.50. The stock’s fifty day moving average is $2.70.

Oblong (NASDAQ:OBLG) last released its earnings results on Thursday, November 13th. The company reported ($0.74) EPS for the quarter. The company had revenue of $0.60 million for the quarter. Oblong had a negative return on equity of 55.01% and a negative net margin of 135.92%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Oblong from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oblong in a research report on Friday, October 31st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Oblong presently has an average rating of “Sell”.

Institutional Trading of Oblong

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OBLG. Boothbay Fund Management LLC purchased a new stake in shares of Oblong during the 3rd quarter worth approximately $120,000. Two Sigma Investments LP acquired a new stake in Oblong during the 3rd quarter worth $58,000. Citadel Advisors LLC acquired a new stake in Oblong during the 3rd quarter worth $56,000. Fifth Lane Capital LP purchased a new stake in Oblong in the third quarter valued at $40,000. Finally, Virtu Financial LLC acquired a new position in Oblong in the third quarter valued at $39,000. Institutional investors and hedge funds own 1.98% of the company’s stock.

Oblong Company Profile

Oblong Inc, together with its subsidiaries, provides multi-stream collaboration technologies and managed services for video collaboration and network applications in the United States and internationally. The company operates in two segments, Collaboration Products and Managed Services. Its flagship product is Mezzanine that enables visual collaboration across multi-users, multi-screens, multi-devices, and multi-locations for video telepresence, laptop and application sharing, and whiteboard sharing and slides applications.