OLO (NYSE:OLO) Trading 4.6% Higher – Here’s Why

Shares of Olo Inc. (NYSE:OLO) traded up 4.6% during trading on Tuesday . The stock 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.

Wall Street Analyst Weigh In

A number of research firms recently commented on OLO. Lake Street Capital raised their price objective on shares of OLO from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. StockNews.com upgraded shares of OLO from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, Piper Sandler restated an “overweight” rating and issued a $8.00 price target on shares of OLO in a research report on Thursday, August 1st.

OLO Stock Performance

The firm has a market capitalization of $1.12 billion, a P/E ratio of -68.19 and a beta of 1.26. The business has a 50 day simple moving average of $5.00 and a two-hundred day simple moving average of $4.86.

Insider Transactions at OLO

In related news, CRO Diego Panama sold 13,555 shares of the business’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 completion of the sale, the executive now owns 569,859 shares in the company, valued at approximately $2,792,309.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Sherri Manning sold 9,356 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $45,844.40. Following the completion of the sale, the insider now owns 148,414 shares in the company, valued at approximately $727,228.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Diego Panama sold 13,555 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $66,419.50. Following the sale, the executive now directly owns 569,859 shares in the company, valued at approximately $2,792,309.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,148 shares of company stock worth $554,425 in the last ninety days. Insiders own 39.33% of the company’s stock.

Institutional Investors Weigh In On OLO

A number of institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of OLO by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,636 shares of the company’s stock worth $218,000 after purchasing an additional 3,340 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in OLO in the first quarter valued at about $1,038,000. Vanguard Group Inc. raised its position in shares of OLO by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 12,739,568 shares of the company’s stock valued at $69,940,000 after acquiring an additional 319,544 shares during the last quarter. Rockport Wealth LLC bought a new stake in shares of OLO in the 1st quarter valued at $55,000. Finally, Quadrature Capital Ltd boosted its stake in OLO by 73.5% in the 1st quarter. Quadrature Capital Ltd now owns 87,457 shares of the company’s stock worth $480,000 after purchasing an additional 37,063 shares during the period. Institutional investors and hedge funds own 93.40% of the company’s stock.

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.