One Horizon Group Inc (NASDAQ:OHGI)
One Horizon Group Inc (NASDAQ:OHGI) shares are making their third run, since the beginning of September, to close above $1.25. On Friday, OHGI shares closed at $1.00, and quickly rose to an inter-day high of $1.34 on heavy volume before falling back to below $1.20 with 3.5 hours left in the trading day.
One Horizon Group Business
London, England-based One Horizon Group Inc (NASDAQ:OHGI) develops and licenses, globally, software for mobile voice over Internet protocol (VoIP). The company develops Horizon Platform, used to compete against the over the top provider’s applications that are running on their networks; and Horizon Call, a mobile application, which enables bandwidth-efficient VoIP calls over a smartphone. It offers retail smartphone VoIP, messaging, and advertising service under the Aishuo brand name; and software maintenance services.
One Horizon Group Inc (NASDAQ:OHGI) has a market capitalization of under $11 million. Last year it reported $1.6 million in sales which was better than 2015’s figure of $1.5 million, but far under the 2014 sales figure of $5.1 million. Worryingly, the company has a published “cash per share” figure of only $0.03.
OHGI stock is up over 40% for the quarter but is down for the year by almost 45%. However the stock is well off its 52-week low of $0.57 but around 60% below its 52-week high of $3.12. One Horizon Group Inc (NASDAQ:OHGI) cut its 2015 per share loss of (-$1.12) to (-$0.95) for 2016. Fortunately for investors, the company has been fairly steady regarding its number of outstanding shares so dilution has not been too much of an issue. Will the buying strength hold and allow the momentum to continue? The stock has a relative strength Index figure of over 71 – typically a number over 70 triggers an “overbought” status among traders.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.