Shares of One Horizon Group Inc (NASDAQ:OHGI) are up big in morning trading after the company announced that they have seen an overall growth of their China mobile VoIP telco Aishuo soar over the past 9 months. 12 million downloads have been made in this timeframe alone, and this has led to the company seeing its growth trejectory reached 18 months ahead of schedule. Additionally, One Horizon Group Inc (NASDAQ:OHGI) has seen its Aishuo revenues double for the third straight quarter — numbers that even the most optimistic investors couldn’t have hoped for in the beginning of the year.
One Horizon Group Inc.’s (NASDAQ:OHGI) subsidiary, Aishuo offers special “communication-stickers” which are a combination of emojis and cartoons, which give users a creative way of sending messages to one another. The app downloads are free on many different App stores, which include Apple’s iTunes, Baidu, and more.
“Our deployment in China has exceeded all our internal forecasts and roll-out modeling, explained One Horizon Group CEO, Brian Collins. “Now we’re pushing even further across the Chinese social media market with the addition of the massively popular sticker communication feature. Some stickers will be free of charge while others will have a small payment attached for those special expressions that our mobile subscribers may wish to share.”
The stock is up 40.21% or $0.41 following the news, hitting $1.43 per share. About 809,224 shares traded hands or up 282.76% from the average. OHGI has declined 49.50% since May 27, 2015 and is currently downtrending. It has underperformed the S&P500 by 47.24%.
The institutional sentiment increased to 2 in Q2 2015. It’s up 0.33, from 1.67 in 2015Q2. The ratio increased, as 2 funds sold all their One Horizon Group Inc shares they owned while 1 reduced their positions. 3 funds bought stakes while 3 increased their total positions. Institutions now own 246,049 shares which is 429.91% more than the previous share count of 46,432 in 2015Q2.
Citadel Advisors Llc holds 0% of its total portfolio in One Horizon Group Inc, equating to 13,240 shares. Citigroup Inc owns 605 shares representing 0% of their total US portfolio. Moreover, Hightower Advisors Llc has 0% of their total portfolio invested in the company, equating to 66,400 shares. The New York-based Jane Street Group Llc has a total of 0% of their portfolio invested in the stock. Kcg Holdings Inc., a New Jersey-based fund reported 91,543 shares owned.
Since October 23, 2015, the stock had 0 buys, and 1 sale for a total of $8,750 in net activity. Ward Martin Christopher sold 5,000 shares worth $8,750.
One Horizon Group Inc. develops and licenses software to telecommunications operators through its wholly owned subsidiaries Horizon Globex GmbH and Abbey Technology GmbH (Abbey Technology). The company has a market cap of $37.72 million. Horizon Globex and Abbey Technology develop software application platforms that optimize mobile voice, instant messaging and advertising communications over the Internet, collectively, the Horizon Platform. It currently has negative earnings. The Horizon Platform is a Voice over Internet Protocol (VoIP) platform for smartphones and tablets, and also provides data applications, including multi-media messaging and mobile advertising.