StockNews.com lowered shares of OLO (NYSE:OLO - Free Report) from a buy rating to a hold rating in a report published on Tuesday morning.
OLO Stock Performance
Shares of OLO stock traded up $0.15 on Tuesday, reaching $7.62. The stock had a trading volume of 2,479,228 shares, compared to its average volume of 1,058,141. The business's 50-day moving average price is $5.83 and its two-hundred day moving average price is $5.17. The stock has a market cap of $1.25 billion, a P/E ratio of -74.70 and a beta of 1.46. OLO has a fifty-two week low of $4.20 and a fifty-two week high of $7.76.
Institutional Investors Weigh In On OLO
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its stake in OLO by 17.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,170,500 shares of the company's stock valued at $5,174,000 after purchasing an additional 171,700 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of OLO by 154.4% in the second quarter. Cubist Systematic Strategies LLC now owns 567,864 shares of the company's stock valued at $2,510,000 after acquiring an additional 344,676 shares during the period. SG Americas Securities LLC acquired a new stake in shares of OLO in the second quarter worth $249,000. Clearline Capital LP increased its position in OLO by 325.8% during the second quarter. Clearline Capital LP now owns 169,737 shares of the company's stock worth $750,000 after acquiring an additional 129,874 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new position in OLO during the 3rd quarter valued at $1,600,000. 93.40% of the stock is owned by institutional investors and hedge funds.
OLO Company Profile
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Olo Inc operates an open SaaS platform for restaurants in the United States. The company's platform enables on-demand digital commerce operations, which cover digital ordering, delivery, front-of-house management, and payments. Its solutions include Order, a suite of solutions powering restaurant brands' on-demand commerce operations, enabling digital ordering, delivery, and channel management through ordering, dispatch, rails, switchboard, network, virtual brands, kiosk, catering, and sync modules; Engage, a suite of restaurant-centric marketing solutions optimizing guest lifetime value by strengthening and enhancing the restaurants' direct guest relationships, through the guest data platform, marketing, sentiment, and host modules; and Pay, a frictionless payment platform that enables restaurants to grow and protect their digital business through customer payment experience that offers advanced fraud prevention to improve authorization rates for valid transactions, and increase basket conversion through its Olo Pay module.
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