OLB Group (NASDAQ:OLB) Posts Earnings Results, Beats Estimates By $0.01 EPS

OLB Group (NASDAQ:OLB) released its quarterly earnings results on Friday. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01, Zacks reports. The firm had revenue of $1.28 million for the quarter, compared to analysts’ expectations of $2.10 million. OLB Group had a negative net margin of 73.19% and a negative return on equity of 96.26%.

OLB Group Stock Performance

NASDAQ:OLB traded down $0.01 during midday trading on Friday, reaching $0.30. 1,884,452 shares of the stock traded hands, compared to its average volume of 216,332. The company has a fifty day moving average of $0.36 and a 200 day moving average of $0.47. OLB Group has a 12 month low of $0.27 and a 12 month high of $1.80. The stock has a market capitalization of $4.37 million, a P/E ratio of -0.34 and a beta of 2.05.

Analysts Set New Price Targets

Several research firms have weighed in on OLB. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of OLB Group in a report on Monday, August 3rd. Wall Street Zen upgraded shares of OLB Group to a “sell” rating in a research report on Saturday, April 25th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Hedge Funds Weigh In On OLB Group

A hedge fund recently bought a new stake in OLB Group stock. Citadel Advisors LLC acquired a new stake in shares of OLB Group, Inc. (NASDAQ:OLB) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 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. 3.84% of the stock is currently owned by institutional investors and hedge funds.

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.