OLB Group (NASDAQ:OLB) Posts Earnings Results

OLB Group (NASDAQ:OLB) posted its quarterly earnings data on Friday. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01, Zacks reports. OLB Group had a negative return on equity of 96.26% and a negative net margin of 73.19%.

OLB Group Stock Down 4.6%

Shares of NASDAQ OLB traded down $0.01 during trading on Friday, hitting $0.30. 1,884,452 shares of the company traded hands, compared to its average volume of 3,801,659. OLB Group has a 1 year low of $0.27 and a 1 year high of $1.80. The company has a 50-day moving average price of $0.36 and a 200-day moving average price of $0.48. The firm has a market capitalization of $4.37 million, a P/E ratio of -0.34 and a beta of 2.05.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in OLB Group stock. Citadel Advisors LLC purchased a new stake in shares of OLB Group, Inc. (NASDAQ:OLB) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 32,703 shares of the company’s stock, valued at approximately $38,000. Citadel Advisors LLC owned 0.37% of OLB Group at the end of the most recent quarter. Hedge funds and other institutional investors own 3.84% of the company’s stock.

Analysts Set New Price Targets

OLB has been the subject of several analyst reports. Wall Street Zen upgraded OLB Group to a “sell” rating in a research note on Saturday, April 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of OLB Group in a research note on Monday, August 3rd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

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.