Short Interest in Olo Inc. (NYSE:OLO) Decreases By 14.6%

Olo Inc. (NYSE:OLOGet Free Report) was the target of a large decrease in short interest in the month of April. As of April 30th, there was short interest totalling 2,400,000 shares, a decrease of 14.6% from the April 15th total of 2,810,000 shares. Currently, 2.4% of the company’s shares are sold short. Based on an average daily volume of 994,700 shares, the days-to-cover ratio is presently 2.4 days.

Insider Transactions at OLO

In other OLO news, CRO Diego Panama sold 40,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $4.70, for a total value of $188,000.00. Following the transaction, the executive now owns 592,806 shares of the company’s stock, valued at $2,786,188.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 39.12% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. acquired a new position in OLO in the first quarter valued at $29,000. Rockport Wealth LLC acquired a new stake in shares of OLO in the 1st quarter valued at about $55,000. Victory Capital Management Inc. grew its stake in OLO by 29.7% during the 4th quarter. Victory Capital Management Inc. now owns 14,056 shares of the company’s stock worth $80,000 after buying an additional 3,219 shares during the last quarter. Precision Wealth Strategies LLC acquired a new position in OLO during the third quarter worth approximately $82,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in OLO in the third quarter valued at approximately $82,000. Institutional investors and hedge funds own 93.40% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler increased their target price on OLO from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.10.

Check Out Our Latest Research Report on OLO

OLO Stock Performance

Shares of OLO opened at $4.86 on Wednesday. OLO has a 1 year low of $4.25 and a 1 year high of $8.84. The stock has a market capitalization of $786.02 million, a PE ratio of -16.74 and a beta of 1.29. The stock has a 50-day simple moving average of $5.11 and a 200-day simple moving average of $5.32.

OLO (NYSE:OLOGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $66.51 million during the quarter, compared to analysts’ expectations of $64.22 million. OLO had a negative net margin of 19.35% and a negative return on equity of 1.56%. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.06) EPS. Analysts predict that OLO will post -0.1 EPS for the current year.

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.

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