Oblong (NYSE:OBLG) Shares Down 3.1% – What’s Next?

Oblong, Inc. (NYSE:OBLG) traded down 3.1% on Wednesday . The company traded as low as $3.35 and last traded at $3.40. 12,436 shares traded hands during trading, a decline of 63% from the average session volume of 33,369 shares. The stock had previously closed at $3.51.

Oblong Stock Down 3.1 %

The firm has a 50 day simple moving average of $3.73 and a 200-day simple moving average of $3.76.

Institutional Investors Weigh In On Oblong

An institutional investor recently bought a new position in Oblong stock. Renaissance Technologies LLC bought a new stake in shares of Oblong, Inc. (NYSE:OBLG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,100 shares of the company’s stock, valued at approximately $43,000. Renaissance Technologies LLC owned approximately 0.97% of Oblong at the end of the most recent reporting period. Institutional investors own 1.98% of the company’s stock.

About Oblong

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.