Globeflex Capital L P Invests $2.55 Million in Olo Inc. (NYSE:OLO)

Globeflex Capital L P acquired a new stake in shares of Olo Inc. (NYSE:OLO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 332,267 shares of the company's stock, valued at approximately $2,552,000. Globeflex Capital L P owned about 0.20% of OLO at the end of the most recent reporting period.

Several other large investors have also modified their holdings of OLO. Tandem Financial LLC acquired a new position in OLO during the fourth quarter worth approximately $26,000. Global Retirement Partners LLC purchased a new stake in shares of OLO during the 4th quarter valued at $27,000. SBI Securities Co. Ltd. acquired a new stake in shares of OLO during the 4th quarter worth $35,000. Point72 Asset Management L.P. purchased a new position in shares of OLO in the 3rd quarter worth $74,000. Finally, Benjamin Edwards Inc. acquired a new position in OLO in the third quarter valued at $91,000. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OLO has been the subject of several research analyst reports. Piper Sandler restated a "neutral" rating and set a $8.00 price target on shares of OLO in a research note on Wednesday, January 8th. StockNews.com downgraded shares of OLO from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, Royal Bank of Canada lifted their price target on shares of OLO from $8.00 to $9.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd.

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OLO Trading Up 0.4 %

NYSE:OLO traded up $0.03 during mid-day trading on Wednesday, hitting $6.32. The company had a trading volume of 714,876 shares, compared to its average volume of 1,086,456. The business has a fifty day simple moving average of $7.05 and a 200-day simple moving average of $6.42. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -63.14 and a beta of 1.41. Olo Inc. has a 1 year low of $4.20 and a 1 year high of $8.35.

OLO (NYSE:OLO - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $76.07 million for the quarter, compared to analysts' expectations of $72.76 million. OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. As a group, research analysts anticipate that Olo Inc. will post -0.03 earnings per share for the current year.

About OLO

Olo, Inc engages in the provision of cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded in 2005 and is headquartered in New York, NY.