Olo Inc. (NYSE:OLO) Short Interest Update

by · The Cerbat Gem

Olo Inc. (NYSE:OLO – Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 3,820,000 shares, an increase of 17.9% from the March 15th total of 3,240,000 shares. Based on an average trading volume of 1,310,000 shares, the short-interest ratio is presently 2.9 days. Approximately 3.5% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

OLO has been the topic of several recent research reports. Royal Bank of Canada boosted their price target on OLO from $8.00 to $9.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Piper Sandler reissued a “neutral” rating and issued a $8.00 target price on shares of OLO in a report on Wednesday, January 8th. Finally, StockNews.com cut OLO from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th.

Check Out Our Latest Stock Analysis on OLO

Hedge Funds Weigh In On OLO

Several institutional investors have recently modified their holdings of the company. Barclays PLC raised its stake in shares of OLO by 399.3% during the third quarter. Barclays PLC now owns 190,335 shares of the company’s stock valued at $943,000 after purchasing an additional 152,214 shares in the last quarter. Norges Bank bought a new stake in shares of OLO during the 4th quarter worth about $5,181,000. Moloney Securities Asset Management LLC acquired a new stake in shares of OLO in the 4th quarter worth approximately $407,000. JPMorgan Chase & Co. boosted its holdings in shares of OLO by 220.4% in the third quarter. JPMorgan Chase & Co. now owns 558,507 shares of the company’s stock valued at $2,770,000 after acquiring an additional 384,196 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of OLO during the fourth quarter valued at approximately $890,000. Institutional investors own 93.40% of the company’s stock.

OLO Price Performance

OLO stock traded down $0.20 during mid-day trading on Monday, hitting $5.86. 1,060,337 shares of the company were exchanged, compared to its average volume of 1,171,791. OLO has a 12-month low of $4.20 and a 12-month high of $8.35. The business’s 50 day simple moving average is $6.40 and its two-hundred day simple moving average is $6.63. The company has a market capitalization of $972.85 million, a P/E ratio of -58.59 and a beta of 1.42.

OLO (NYSE:OLO – Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $76.07 million during the quarter, compared to analyst estimates of $72.76 million. OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. Equities research analysts predict that OLO will post -0.03 earnings per share for the current year.

OLO Company Profile

(Get Free Report)

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.

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