Olo Inc. (NYSE:OLO – Get Rating) hit a new 52-week low during trading on Monday after Royal Bank of Canada lowered their price target on the stock from $17.00 to $12.00. The company traded as low as $8.11 and last traded at $8.40, with a volume of 62406 shares changing hands. The stock had previously closed at $8.26.
Several other research firms have also recently issued reports on OLO. Stifel Nicolaus cut shares of OLO from a “buy” rating to a “hold” rating and cut their price objective for the stock from $12.00 to $9.00 in a research report on Friday. JPMorgan Chase & Co. cut their price objective on shares of OLO from $26.00 to $21.00 in a research report on Friday, June 17th. StockNews.com cut shares of OLO from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Piper Sandler lowered shares of OLO from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $13.00 to $9.00 in a research note on Friday. Finally, William Blair reaffirmed an “outperform” rating on shares of OLO in a research note on Wednesday, May 11th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, OLO currently has an average rating of “Hold” and an average target price of $13.40.
Insider Activity at OLO
In other OLO news, CEO Noah H. Glass sold 3,726 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $10.87, for a total transaction of $40,501.62. Following the sale, the chief executive officer now owns 142,051 shares of the company’s stock, valued at $1,544,094.37. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other OLO news, CEO Noah H. Glass sold 3,726 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $10.87, for a total transaction of $40,501.62. Following the sale, the chief executive officer now owns 142,051 shares of the company’s stock, valued at $1,544,094.37. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Marty D. Hahnfeld sold 21,836 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $10.53, for a total transaction of $229,933.08. Following the sale, the insider now directly owns 603,292 shares in the company, valued at approximately $6,352,664.76. The disclosure for this sale can be found here. Insiders have sold a total of 29,655 shares of company stock valued at $314,926 over the last 90 days.
Hedge Funds Weigh In On OLO
A number of institutional investors have recently modified their holdings of OLO. Geneos Wealth Management Inc. purchased a new position in OLO in the 4th quarter valued at $52,000. Green Square Capital Advisors LLC purchased a new position in OLO in the 4th quarter valued at $317,000. Squarepoint Ops LLC grew its position in OLO by 839.2% in the 4th quarter. Squarepoint Ops LLC now owns 145,527 shares of the company’s stock valued at $3,028,000 after buying an additional 130,033 shares during the last quarter. SG Americas Securities LLC purchased a new position in OLO in the 4th quarter valued at $7,255,000. Finally, YorkBridge Wealth Partners LLC purchased a new stake in shares of OLO during the 1st quarter worth $223,000. 75.26% of the stock is owned by institutional investors and hedge funds.
OLO Stock Performance
The firm’s 50-day simple moving average is $10.89 and its 200 day simple moving average is $12.24.
OLO (NYSE:OLO – Get Rating) last issued its earnings results on Thursday, August 11th. The company reported $0.01 EPS for the quarter. The company had revenue of $45.60 million for the quarter, compared to analyst estimates of $45.83 million. OLO had a negative net margin of 22.06% and a negative return on equity of 3.99%. The business’s revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.02) EPS. As a group, sell-side analysts predict that Olo Inc. will post -0.17 earnings per share for the current fiscal year.
OLO Company Profile
Olo Inc provides software-as-a-service platform for multi-location restaurants in the United States. The company’s platform enables on-demand commerce operations, which cover digital ordering and delivery through online and mobile ordering modules. Its modules include Order Management, an on-demand digital commerce and channel management solutions that enables consumers to order directly from and pay restaurants via mobile, web, kiosk, voice, and other digital channels; and Delivery Enablement, a fulfillment network, as well as a network aggregator and channel management solution, which enables restaurants to offer, manage, and expand direct delivery, as well as allows restaurants to control and syndicate menu, pricing, location data, and availability, while directly integrating and optimizing orders from third-parties into the restaurants’ point-of-sale and systems.