Renaissance Technologies LLC Invests $43,000 in Oblong, Inc. (NYSE:OBLG)

Renaissance Technologies LLC purchased a new stake in Oblong, Inc. (NYSE:OBLG) during the 4th quarter, Holdings Channel.com reports. The fund purchased 11,100 shares of the company’s stock, valued at approximately $43,000.

Oblong Stock Performance

NYSE:OBLG opened at $2.62 on Friday. Oblong, Inc. has a 52-week low of $1.91 and a 52-week high of $14.82. The stock’s 50 day moving average price is $2.99 and its 200 day moving average price is $3.45.

Oblong announced that its board has approved a stock repurchase plan on Tuesday, April 22nd that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Oblong 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.