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

OLB Group, Inc. (NASDAQ:OLB) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 98,614 shares, a drop of 84.4% from the April 30th total of 630,759 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average trading volume of 355,958 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds 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 shares of OLB Group, Inc. (NASDAQ:OLB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 32,703 shares of the company’s stock, valued at approximately $38,000. Citadel Advisors LLC owned 0.37% of OLB Group as of its most recent SEC filing. 3.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OLB has been the subject of several analyst reports. Wall Street Zen upgraded shares of OLB Group to a “sell” rating in a 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 analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

OLB Group Price Performance

Shares of OLB stock traded up $0.05 during mid-day trading on Friday, hitting $0.49. The stock had a trading volume of 690,957 shares, compared to its average volume of 5,646,392. OLB Group has a 12-month low of $0.31 and a 12-month high of $2.50. The firm has a market capitalization of $7.21 million, a P/E ratio of -0.39 and a beta of 2.04. The firm’s 50-day moving average is $0.48 and its two-hundred day moving average is $0.67.

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

About OLB Group

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.