OLO (NYSE:OLO) Sees Strong Trading Volume – Still a Buy?

Olo Inc. (NYSE:OLO) shares saw an uptick in trading volume on Tuesday . 1,746,402 shares traded hands during trading, an increase of 82% from the previous session’s volume of 960,505 shares.The stock last traded at $5.04 and had previously closed at $5.19.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on OLO shares. Lake Street Capital increased their target price on OLO from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and set a $8.00 price objective on shares of OLO in a research note on Thursday, August 1st. Finally, StockNews.com upgraded shares of OLO from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $8.67.

OLO Trading Down 0.2 %

The firm has a market capitalization of $812.15 million, a price-to-earnings ratio of -33.47 and a beta of 1.27. The company has a 50-day moving average of $4.98 and a 200-day moving average of $4.82.

OLO (NYSE:OLO) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. OLO had a negative net margin of 9.36% and a negative return on equity of 0.47%. The company had revenue of $70.50 million for the quarter, compared to the consensus estimate of $67.79 million. During the same period in the previous year, the firm earned ($0.04) EPS. OLO’s revenue was up 27.6% on a year-over-year basis. On average, research analysts forecast that Olo Inc. will post -0.06 earnings per share for the current year.

Insider Activity at OLO

In other OLO news, CRO Diego Panama sold 13,555 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were 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 $2,792,309.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other OLO 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 transaction of $66,419.50. Following the completion of the sale, the executive now owns 569,859 shares of the company’s stock, valued at $2,792,309.10. This represents 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 available through the SEC website. Also, CFO Peter J. Benevides sold 10,530 shares of OLO 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 $51,597.00. Following the completion of the transaction, the chief financial officer now directly owns 414,403 shares in the company, valued at approximately $2,030,574.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,148 shares of company stock worth $554,425. 39.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On OLO

Several institutional investors and hedge funds have recently bought and sold shares of OLO. Federated Hermes Inc. increased its holdings in OLO by 644,200.0% during the 2nd quarter. Federated Hermes Inc. now owns 6,443 shares of the company’s stock valued at $28,000 after purchasing an additional 6,442 shares in the last quarter. Rockport Wealth LLC bought a new stake in OLO during the 1st quarter worth about $55,000. Wallace Advisory Group LLC acquired a new position in OLO during the 2nd quarter valued at about $57,000. Point72 DIFC Ltd grew its position in shares of OLO by 52.7% during the 2nd quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock worth $64,000 after buying an additional 4,964 shares during the period. Finally, SPC Financial Inc. bought a new stake in shares of OLO during the third quarter worth approximately $65,000. Institutional investors own 93.40% of the company’s stock.

OLO Company Profile

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.