OLO (NYSE:OLO) Stock Price Up 4.6% – Here’s Why

Shares of Olo Inc. (NYSE:OLO) traded up 4.6% during mid-day trading on Tuesday . The company traded as high as $6.63 and last traded at $6.53. 478,775 shares were traded during trading, a decline of 52% from the average session volume of 992,334 shares. The stock had previously closed at $6.24.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OLO. Piper Sandler restated an “overweight” rating and set a $8.00 price target on shares of OLO in a research report on Thursday, August 1st. Lake Street Capital boosted their target price on shares of OLO from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, StockNews.com upgraded shares of OLO from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th.

OLO Stock Performance

The firm’s 50-day moving average price is $5.00 and its two-hundred day moving average price is $4.86. The firm has a market cap of $1.12 billion, a PE ratio of -68.19 and a beta of 1.26.

Insider Activity

In other news, CRO Diego Panama sold 13,555 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 value of $66,419.50. Following the completion of the transaction, the executive now directly owns 569,859 shares of the company’s stock, valued at approximately $2,792,309.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CRO Diego Panama sold 13,555 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 $66,419.50. Following the transaction, the executive now owns 569,859 shares of the company’s stock, valued at approximately $2,792,309.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Joanna G. Lambert sold 67,403 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $330,274.70. Following the completion of the sale, the chief operating officer now directly owns 591,646 shares in the company, valued at approximately $2,899,065.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,148 shares of company stock worth $554,425. 39.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On OLO

Several hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in OLO by 14.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,017,934 shares of the company’s stock worth $5,049,000 after acquiring an additional 127,569 shares during the period. Landscape Capital Management L.L.C. purchased a new position in shares of OLO in the 3rd quarter valued at $1,600,000. Intech Investment Management LLC purchased a new position in OLO during the 3rd quarter worth $100,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of OLO by 52.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,410,528 shares of the company’s stock valued at $6,996,000 after buying an additional 487,919 shares during the period. Finally, MQS Management LLC raised its holdings in OLO by 15.9% in the 3rd quarter. MQS Management LLC now owns 28,363 shares of the company’s stock worth $141,000 after purchasing an additional 3,898 shares during the period. 93.40% of the stock is owned by institutional investors.

About OLO

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.