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

OLB Group, Inc. (NASDAQ:OLB) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totaling 1,792,006 shares, an increase of 890.4% from the September 30th total of 180,942 shares. Based on an average daily trading volume, of 136,092,922 shares, the days-to-cover ratio is presently 0.0 days. Currently, 18.7% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of OLB Group in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company has an average rating of “Sell”.

OLB Group Stock Performance

Shares of OLB stock traded down $0.01 during trading hours on Wednesday, hitting $0.27. The company had a trading volume of 223,668 shares, compared to its average volume of 12,134,344. The firm has a market capitalization of $6.56 million, a price-to-earnings ratio of -0.94 and a beta of 2.17. OLB Group has a 12 month low of $0.18 and a 12 month high of $1.80. The firm’s fifty day moving average is $0.31 and its 200 day moving average is $0.44.

OLB Group (NASDAQ:OLB) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. OLB Group had a negative net margin of 68.26% and a negative return on equity of 76.38%. The firm had revenue of $1.28 million during the quarter, compared to the consensus estimate of $2.10 million.

About OLB Group

The OLB Group, Inc is a financial technology company that provides payment processing and merchant services to small and midsized businesses. Its solutions are designed to help merchants accept and manage transactions across in-store, online and mobile channels.

The company’s offerings include point-of-sale systems, e-commerce payment tools, mobile payment acceptance and integrated business-management services. Through its merchant-services platform, OLB supports functions such as transaction processing, payment security and merchant account management.

OLB has historically focused primarily on the U.S.