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

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

Institutional Investors Weigh In On OLB Group

A hedge fund recently raised its stake in OLB Group stock. Avalon Trust Co boosted its position in shares of OLB Group, Inc. (NASDAQ:OLB) by 100.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,100 shares of the company’s stock after buying an additional 36,050 shares during the period. Avalon Trust Co owned approximately 0.82% of OLB Group worth $84,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 3.84% of the company’s stock.

OLB Group Stock Up 5.4%

Shares of OLB traded up $0.02 during midday trading on Thursday, reaching $0.47. 171,314 shares of the stock were exchanged, compared to its average volume of 5,691,971. The stock’s 50 day simple moving average is $0.49 and its 200 day simple moving average is $0.67. The company has a market cap of $6.86 million, a P/E ratio of -0.37 and a beta of 2.04. OLB Group has a twelve month low of $0.31 and a twelve month high of $2.50.

OLB Group (NASDAQ:OLB) last released its quarterly 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 business had revenue of $1.66 million during the quarter.

Wall Street Analyst Weigh In

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