OLO (NYSE:OLO - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Friday.
Several other research firms have also commented on OLO. Lake Street Capital increased their price target on shares of OLO from $8.50 to $9.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Piper Sandler reaffirmed an "overweight" rating and set a $8.00 price target on shares of OLO in a research report on Thursday, August 1st.
Read Our Latest Stock Report on OLO
OLO Trading Up 2.4 %
Shares of NYSE:OLO traded up $0.17 on Friday, reaching $7.17. The company had a trading volume of 2,088,775 shares, compared to its average volume of 1,030,203. The firm has a market capitalization of $1.17 billion, a PE ratio of -71.69 and a beta of 1.26. OLO has a 52-week low of $4.20 and a 52-week high of $7.26. The firm's 50 day simple moving average is $5.32 and its 200-day simple moving average is $4.97.
Insiders Place Their Bets
In related news, CEO Noah H. Glass sold 10,423 shares of the company's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $51,072.70. Following the sale, the chief executive officer now owns 312,393 shares in the company, valued at $1,530,725.70. This represents a 3.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sherri Manning sold 9,356 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $45,844.40. Following the completion of the transaction, the insider now owns 148,414 shares in the company, valued at approximately $727,228.60. This trade represents a 5.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,148 shares of company stock valued at $554,425. Insiders own 39.33% of the company's stock.
Institutional Trading of OLO
Several large investors have recently made changes to their positions in OLO. Connor Clark & Lunn Investment Management Ltd. lifted its position in OLO by 52.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,410,528 shares of the company's stock valued at $6,996,000 after purchasing an additional 487,919 shares during the period. Essex Investment Management Co. LLC acquired a new position in shares of OLO in the 3rd quarter valued at about $2,236,000. Algert Global LLC lifted its holdings in shares of OLO by 114.0% in the 2nd quarter. Algert Global LLC now owns 710,319 shares of the company's stock valued at $3,140,000 after buying an additional 378,368 shares during the period. Cubist Systematic Strategies LLC boosted its stake 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 worth $2,510,000 after buying an additional 344,676 shares during the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in OLO during the third quarter worth about $1,600,000. 93.40% of the stock is owned by hedge funds and other institutional investors.
OLO Company Profile
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider OLO, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and OLO wasn't on the list.
While OLO currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
