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Olo Inc. (NYSE:OLO) Short Interest Update

kopsource · Sep 15, 2022 18:22

Olo Inc. (NYSE:OLO – Get Rating) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 9,740,000 shares, a decrease of 22.4% from the August 15th total of 12,550,000 shares. Based on an average daily trading volume, of 1,910,000 shares, the short-interest ratio is currently 5.1 days. Currently, 9.9% of the company's stock are short sold.

OLO Stock Performance

Shares of OLO traded down $0.01 during mid-day trading on Thursday, reaching $8.09. The company had a trading volume of 1,104,703 shares, compared to its average volume of 1,651,819. The company's 50 day simple moving average is $9.84 and its 200 day simple moving average is $10.89. OLO has a 1-year low of $7.16 and a 1-year high of $35.68. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -35.65 and a beta of 1.41.

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OLO (NYSE:OLO – Get Rating) last issued its quarterly earnings data on Thursday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter. OLO had a negative net margin of 22.06% and a negative return on equity of 3.99%. The business had revenue of $45.60 million during the quarter, compared to analyst estimates of $45.83 million. During the same quarter last year, the business earned ($0.02) EPS. The firm's quarterly revenue was up 27.0% on a year-over-year basis. As a group, equities analysts forecast that OLO will post -0.21 earnings per share for the current fiscal year.

Insider Buying and Selling at OLO

In other OLO news, insider Marty D. Hahnfeld sold 21,836 shares of the company's stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $10.53, for a total value of $229,933.08. Following the completion of the transaction, the insider now directly owns 603,292 shares of the company's stock, valued at approximately $6,352,664.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other OLO news, Director Daniel Harris Meyer acquired 32,500 shares of the company's stock in a transaction that occurred on Thursday, August 18th. The shares were purchased at an average price of $7.62 per share, for a total transaction of $247,650.00. Following the completion of the purchase, the director now directly owns 470,275 shares in the company, valued at $3,583,495.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Marty D. Hahnfeld sold 21,836 shares of the stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $10.53, for a total transaction of $229,933.08. Following the sale, the insider now owns 603,292 shares in the company, valued at approximately $6,352,664.76. The disclosure for this sale can be found here. 40.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. HWG Holdings LP purchased a new position in OLO during the fourth quarter valued at approximately $27,000. Castle Wealth Management LLC purchased a new stake in shares of OLO in the 2nd quarter worth about $58,000. Nisa Investment Advisors LLC purchased a new stake in shares of OLO in the 2nd quarter worth about $60,000. Ensign Peak Advisors Inc purchased a new stake in OLO during the 1st quarter valued at about $113,000. Finally, Advisor Group Holdings Inc. lifted its stake in OLO by 29.1% during the 4th quarter. Advisor Group Holdings Inc. now owns 9,513 shares of the company's stock valued at $198,000 after acquiring an additional 2,146 shares during the period. Institutional investors own 80.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Stifel Nicolaus lowered shares of OLO from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $12.00 to $9.00 in a research note on Friday, August 12th. Piper Sandler downgraded shares of OLO from an "overweight" rating to a "neutral" rating and cut their price target for the company from $13.00 to $9.00 in a report on Friday, August 12th. Royal Bank of Canada lowered their target price on shares of OLO from $17.00 to $12.00 in a research note on Friday, August 12th. Truist Financial decreased their price target on shares of OLO from $25.00 to $16.00 and set a "buy" rating on the stock in a research report on Friday, August 12th. Finally, StockNews.com upgraded shares of OLO from a "sell" rating to a "hold" rating in a research report on Friday, September 9th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $13.40.

OLO Company Profile

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Olo Inc provides software-as-a-service platform for multi-location restaurants in the United States. The company's platform enables on-demand commerce operations, which cover digital ordering and delivery through online and mobile ordering modules. Its modules include Order Management, an on-demand digital commerce and channel management solutions that enables consumers to order directly from and pay restaurants via mobile, web, kiosk, voice, and other digital channels; and Delivery Enablement, a fulfillment network, as well as a network aggregator and channel management solution, which enables restaurants to offer, manage, and expand direct delivery, as well as allows restaurants to control and syndicate menu, pricing, location data, and availability, while directly integrating and optimizing orders from third-parties into the restaurants' point-of-sale and systems.