OLO’s (OLO) Neutral Rating Reaffirmed at Piper Sandler

Piper Sandler reiterated their neutral rating on shares of OLO (NYSE:OLO) in a report issued on Wednesday, MarketBeat.com reports. The brokerage currently has a $8.00 price target on the stock.

Several other research firms have also issued reports on OLO. StockNews.com lowered OLO from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Royal Bank of Canada raised their price objective on OLO from $8.00 to $9.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd.

OLO Trading Down 4.3 %

Shares of OLO stock opened at $7.28 on Wednesday. The stock has a 50 day moving average of $7.18 and a 200 day moving average of $5.70. OLO has a 12 month low of $4.20 and a 12 month high of $8.35. The firm has a market cap of $1.19 billion, a PE ratio of -72.79 and a beta of 1.42.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in OLO by 14.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,017,934 shares of the company’s stock worth $5,049,000 after purchasing an additional 127,569 shares during the period. Renaissance Technologies LLC increased its holdings in OLO by 17.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,170,500 shares of the company’s stock worth $5,174,000 after purchasing an additional 171,700 shares during the period. Barclays PLC increased its holdings in OLO by 399.3% during the 3rd quarter. Barclays PLC now owns 190,335 shares of the company’s stock worth $943,000 after purchasing an additional 152,214 shares during the period. Cubist Systematic Strategies LLC increased its holdings in OLO by 154.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 567,864 shares of the company’s stock worth $2,510,000 after purchasing an additional 344,676 shares during the period. Finally, Clearline Capital LP increased its holdings in OLO by 325.8% during the 2nd quarter. Clearline Capital LP now owns 169,737 shares of the company’s stock worth $750,000 after purchasing an additional 129,874 shares during the period. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

About OLO

Olo, Inc engages in the provision of cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded in 2005 and is headquartered in New York, NY.