One Horizon Group, Inc. (NASDAQ: OHGI)
One Horizon Group, Inc. (OHGI), a telecommunications company today announced that its licensee Roam Frii LLC, formally launched its Wi-Fi calling platform in the U.S. Roam Frii a leading optimized for mobile VoIP service, offers an in app number rental feature that allows U.S and Chinese customers to get a local number to call friends and family at low domestic rates.
One Horizon Group, Inc. CEO’s Comments
“Roam Frii is the first US based licensee featuring our product and we are very excited about getting our technology onto the smartphones of US-based subscribers,” said Brian Collins, CEO of One Horizon Group. “Our high quality, low bandwidth technology combined with Roam Frii’s seamless number rental features will give Roam Frii a powerful advantage in the market. This is also the first of our licensees to integrate with Braintree, the US payment service, and their in-App payment solution really rounds out the product offering.” Market Wired
OHGI Technical Analysis
OHGI gapped up in price yesterday to $1.48 up from the prior days close of $1.36 which is a 9% increase in price based on favorable news. Taking a look at the daily chart, we can see the last time the stock traded above this price level was on Sept 2 when it traded at $1.60. Taking a further look back on the chart we can see the stock had a huge spike up on May 26, when it traded at $1.47. Only two days later the stock reached a high of $5.84 which is equivalent to a whopping 297% increase in price. The stock has given all of it back since then reaching a low of $1.11 on August 24. As we can see the stock has been extremely volatile in the past four months. The stock does have a low float of 16.65 million shares and has shown the ability to make big moves making it a good candidate for the gap and go strategy. The stock did reach pre market highs of $1.75 so it did give back $0.27 at the open, equivalent to 15%. For trading purposes, my entry price would be $1.50 with a possible add at pre market highs of $1.75 looking for a run to $2.00. My stop loss would be $1.40.
One Horizon Group, Inc., through its subsidiaries, develops and licenses software solutions to telecommunications operators in Europe, Asia, the Russian Federation, and the United States. The company develops Horizon platform, a bandwidth-efficient voice over Internet protocol platform for smart phones and tablets; and provides optimized data applications, including multi-media messaging and mobile advertising. It also licenses its software solutions to telecommunications network operators and service providers in the mobile, fixed line, cable TV, and satellite communications markets; and provides software maintenance services. The company is based in Limerick, Ireland. Yahoo Finance