Oblong (NYSE:OBLG) Trading Down 2.1% – Time to Sell?

Shares of Oblong, Inc. (NYSE:OBLG) were down 2.1% during trading on Friday . The stock traded as low as $3.70 and last traded at $3.82. Approximately 26,675 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 40,396 shares. The stock had previously closed at $3.90.

Oblong Trading Down 2.1 %

The firm’s fifty day simple moving average is $3.81 and its 200 day simple moving average is $3.33.

Hedge Funds Weigh In On Oblong

A hedge fund recently bought a new stake in Oblong stock. Renaissance Technologies LLC bought a new stake in Oblong, Inc. (NYSE:OBLG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,100 shares of the company’s stock, valued at approximately $43,000. Renaissance Technologies LLC owned approximately 0.97% of Oblong as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 1.98% of the company’s stock.

Oblong Company Profile

Oblong, Inc, together with its subsidiaries, provides multi-stream collaboration technologies and managed services for video collaboration and network applications in the United States and internationally. The company operates in two segments, Collaboration Products and Managed Services. Its flagship product is Mezzanine that enables visual collaboration across multi-users, multi-screens, multi-devices, and multi-locations for video telepresence, laptop and application sharing, and whiteboard sharing and slides applications.