OLO (NYSE:OLO) Stock Rating Upgraded by StockNews.com

OLO (NYSE:OLO) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

OLO Price Performance

Shares of OLO traded up $0.03 during mid-day trading on Monday, hitting $7.32. The stock had a trading volume of 2,056,648 shares, compared to its average volume of 1,039,547. OLO has a 52 week low of $4.20 and a 52 week high of $7.47. The business has a fifty day moving average price of $5.54 and a 200-day moving average price of $5.06. The firm has a market cap of $1.20 billion, a P/E ratio of -73.20 and a beta of 1.26.

Insiders Place Their Bets

In other OLO news, insider Sherri Manning sold 9,356 shares of OLO stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $45,844.40. Following the completion of the transaction, the insider now owns 148,414 shares of the company’s stock, valued at $727,228.60. The trade was a 5.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Diego Panama sold 13,555 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $66,419.50. Following the sale, the executive now owns 569,859 shares in the company, valued at approximately $2,792,309.10. This represents a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,148 shares of company stock worth $554,425 over the last quarter. 39.33% of the stock is currently owned by company insiders.

Institutional Trading of OLO

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC boosted its holdings in OLO by 399.3% in the 3rd quarter. Barclays PLC now owns 190,335 shares of the company’s stock valued at $943,000 after purchasing an additional 152,214 shares during the period. Geode Capital Management LLC raised its position in shares of OLO by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,444,805 shares of the company’s stock worth $12,130,000 after buying an additional 42,318 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in OLO during the third quarter valued at $631,000. XTX Topco Ltd grew its position in OLO by 478.6% during the third quarter. XTX Topco Ltd now owns 168,577 shares of the company’s stock worth $836,000 after buying an additional 139,441 shares in the last quarter. Finally, Zacks Investment Management increased its stake in OLO by 26.7% in the 3rd quarter. Zacks Investment Management now owns 82,699 shares of the company’s stock worth $410,000 after acquiring an additional 17,447 shares during the last quarter. 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.