Olo Inc. (NYSE:OLO) Short Interest Update

Olo Inc. (NYSE:OLO - Get Free Report) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 3,820,000 shares, an increase of 17.9% from the March 15th total of 3,240,000 shares. Based on an average trading volume of 1,310,000 shares, the days-to-cover ratio is currently 2.9 days. Approximately 3.5% of the company's shares are sold short.

OLO Trading Up 0.5 %

NYSE OLO traded up $0.03 during trading hours on Friday, hitting $6.25. The company's stock had a trading volume of 647,065 shares, compared to its average volume of 1,171,242. The company's 50-day simple moving average is $6.33 and its two-hundred day simple moving average is $6.63. The company has a market capitalization of $1.04 billion, a PE ratio of -62.49 and a beta of 1.42. OLO has a 52 week low of $4.20 and a 52 week high of $8.35.

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

Hedge Funds Weigh In On OLO

Several hedge funds have recently modified their holdings of OLO. FMR LLC lifted its holdings in OLO by 1,850.5% during the third quarter. FMR LLC now owns 22,021 shares of the company's stock worth $109,000 after acquiring an additional 20,892 shares during the period. Jane Street Group LLC raised its stake in shares of OLO by 37.0% during the 3rd quarter. Jane Street Group LLC now owns 151,490 shares of the company's stock worth $751,000 after purchasing an additional 40,943 shares during the period. Barclays PLC raised its position in OLO by 399.3% in the third quarter. Barclays PLC now owns 190,335 shares of the company's stock worth $943,000 after acquiring an additional 152,214 shares during the period. Geode Capital Management LLC lifted its stake in OLO by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,444,805 shares of the company's stock valued at $12,130,000 after purchasing an additional 42,318 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of OLO by 220.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 558,507 shares of the company's stock worth $2,770,000 after acquiring an additional 384,196 shares during the period. Institutional investors own 93.40% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. StockNews.com lowered OLO from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Royal Bank of Canada boosted their price target on OLO from $8.00 to $9.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $8.00 price objective on shares of OLO in a research report on Wednesday, January 8th.

OLO Company Profile

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.