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 released on Tuesday.

OLO Price Performance

Shares of OLO stock opened at $7.65 on Tuesday. OLO has a one year low of $4.20 and a one year high of $7.89. The stock has a fifty day moving average price of $6.00 and a 200 day moving average price of $5.22. The stock has a market cap of $1.25 billion, a P/E ratio of -76.50 and a beta of 1.46.

Institutional Investors Weigh In On OLO

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in OLO by 10.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 48,240 shares of the company’s stock valued at $265,000 after buying an additional 4,382 shares during the period. SG Americas Securities LLC acquired a new position in shares of OLO in the 2nd quarter valued at $249,000. Conestoga Capital Advisors LLC increased its position in shares of OLO by 30.6% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 310,310 shares of the company’s stock valued at $1,372,000 after buying an additional 72,685 shares in the last quarter. Rhumbline Advisers increased its position in shares of OLO by 3.3% in the 2nd quarter. Rhumbline Advisers now owns 153,760 shares of the company’s stock valued at $680,000 after buying an additional 4,979 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in OLO during the 2nd quarter worth $227,000. Institutional investors and hedge funds 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.