OLB Group (NASDAQ:OLB) Issues Earnings Results

OLB Group (NASDAQ:OLB) issued its quarterly earnings data on Friday. The company reported ($0.13) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $2.31 million for the quarter. OLB Group had a negative return on equity of 202.36% and a negative net margin of 90.18%.

OLB Group Trading Down 10.8%

Shares of OLB traded down $0.12 during mid-day trading on Friday, hitting $0.97. 39,055 shares of the company traded hands, compared to its average volume of 46,874. The stock has a market capitalization of $8.53 million, a price-to-earnings ratio of -0.22 and a beta of 2.11. The business has a 50-day moving average of $1.24 and a 200 day moving average of $1.46. OLB Group has a one year low of $0.95 and a one year high of $2.50.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded OLB Group from a “sell” rating to a “hold” rating in a research report on Monday, August 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of OLB Group in a research note on Tuesday. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock 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.