OLO (NYSE:OLO) Sets New 12-Month High – Here’s Why

Shares of Olo Inc. (NYSE:OLO) hit a new 52-week high during trading on Monday . The company traded as high as $7.90 and last traded at $7.90, with a volume of 818006 shares. The stock had previously closed at $7.71.

Analysts Set New Price Targets

Separately, StockNews.com lowered OLO from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th.

OLO Trading Down 5.9 %

The stock has a market cap of $1.24 billion, a P/E ratio of -75.49 and a beta of 1.46. The stock’s fifty day moving average price is $6.25 and its 200 day moving average price is $5.32.

Institutional Trading of OLO

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of OLO by 14.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,017,934 shares of the company’s stock valued at $5,049,000 after buying an additional 127,569 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of OLO by 17.2% in 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 last quarter. Cubist Systematic Strategies LLC raised its position in shares of OLO by 154.4% in 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 last quarter. SG Americas Securities LLC purchased a new position in OLO in the 2nd quarter worth about $249,000. Finally, Clearline Capital LP raised its position in OLO by 325.8% in the 2nd quarter. Clearline Capital LP now owns 169,737 shares of the company’s stock worth $750,000 after buying an additional 129,874 shares during the last quarter. Institutional investors own 93.40% of the company’s stock.

About OLO

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.