Olo Inc. (NYSE:OLO) Short Interest Up 16.7% in May

Olo Inc. (NYSE:OLOGet Free Report) was the target of a large increase in short interest in May. As of May 15th, there was short interest totalling 2,800,000 shares, an increase of 16.7% from the April 30th total of 2,400,000 shares. Based on an average daily trading volume, of 962,500 shares, the days-to-cover ratio is currently 2.9 days. Currently, 2.7% of the shares of the stock are sold short.

OLO Trading Up 1.6 %

Shares of OLO opened at $4.58 on Monday. OLO has a 52-week low of $4.25 and a 52-week high of $8.84. The stock has a fifty day moving average price of $4.90 and a two-hundred day moving average price of $5.29.

OLO (NYSE:OLOGet Free Report) last released its earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. The company had revenue of $66.51 million during the quarter, compared to the consensus estimate of $64.22 million. OLO had a negative return on equity of 1.56% and a negative net margin of 19.35%. The firm’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) earnings per share. Analysts expect that OLO will post -0.08 earnings per share for the current year.

Analyst Ratings Changes

Separately, Piper Sandler boosted their price target on OLO from $7.00 to $8.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.10.

Check Out Our Latest Stock Report on OLO

Insider Activity at OLO

In related news, CRO Diego Panama sold 40,000 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $4.70, for a total value of $188,000.00. Following the sale, the executive now owns 592,806 shares of the company’s stock, valued at approximately $2,786,188.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. 39.33% of the stock is owned by insiders.

Institutional Investors Weigh In On OLO

A number of institutional investors and hedge funds have recently made changes to their positions in OLO. Benjamin F. Edwards & Company Inc. bought a new stake in shares of OLO during the first quarter worth $29,000. Rockport Wealth LLC acquired a new stake in shares of OLO during the first quarter worth $55,000. Victory Capital Management Inc. grew its stake in shares of OLO by 29.7% during the fourth quarter. Victory Capital Management Inc. now owns 14,056 shares of the company’s stock worth $80,000 after purchasing an additional 3,219 shares during the period. Sherbrooke Park Advisers LLC acquired a new stake in shares of OLO during the third quarter worth $82,000. Finally, MQS Management LLC acquired a new stake in shares of OLO during the third quarter worth $86,000. Institutional investors own 93.40% of the company’s stock.

OLO Company Profile

(Get Free Report)

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.

Further Reading

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