OLO (NYSE:OLO) Cut to Hold at StockNews.com

StockNews.com lowered shares of OLO (NYSE:OLO) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

A number of other brokerages have also issued reports on OLO. Royal Bank of Canada upped their price objective on shares of OLO from $8.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Piper Sandler reaffirmed a “neutral” rating and issued a $8.00 target price on shares of OLO in a research report on Wednesday, January 8th.

OLO Stock Up 1.5 %

OLO stock opened at $6.45 on Wednesday. OLO has a 52-week low of $4.20 and a 52-week high of $8.35. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -64.44 and a beta of 1.41. The company has a fifty day simple moving average of $6.99 and a 200-day simple moving average of $6.42.

OLO (NYSE:OLO) last released its earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. The business had revenue of $76.07 million for the quarter, compared to analysts’ expectations of $72.76 million. On average, research analysts anticipate that OLO will post -0.03 EPS for the current fiscal year.

Institutional Trading of OLO

Several hedge funds have recently made changes to their positions in OLO. Driehaus Capital Management LLC acquired a new stake in shares of OLO during the fourth quarter worth about $9,691,000. Arrowstreet Capital Limited Partnership increased its stake in shares of OLO by 138.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,895,935 shares of the company’s stock worth $14,561,000 after buying an additional 1,100,307 shares during the period. Two Sigma Advisers LP increased its stake in shares of OLO by 85.6% during the fourth quarter. Two Sigma Advisers LP now owns 1,655,500 shares of the company’s stock worth $12,714,000 after buying an additional 763,400 shares during the period. Nuveen Asset Management LLC increased its stake in shares of OLO by 48.5% during the fourth quarter. Nuveen Asset Management LLC now owns 2,321,232 shares of the company’s stock worth $17,827,000 after buying an additional 757,617 shares during the period. Finally, Norges Bank purchased a new stake in shares of OLO during the fourth quarter worth approximately $5,181,000. Institutional investors and hedge funds own 93.40% of the company’s stock.

OLO Company Profile

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.