OLO (NYSE:OLO) Shares Gap Down – Time to Sell?

Olo Inc. (NYSE:OLOGet Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $7.85, but opened at $7.53. OLO shares last traded at $7.56, with a volume of 147,224 shares trading hands.

Analyst Upgrades and Downgrades

OLO has been the topic of several research analyst reports. Royal Bank of Canada boosted their price objective on OLO from $8.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. StockNews.com lowered shares of OLO from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler reissued a “neutral” rating and set a $8.00 price target on shares of OLO in a research report on Wednesday.

Read Our Latest Stock Analysis on OLO

OLO Price Performance

The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -72.79 and a beta of 1.42. The firm has a 50 day moving average price of $7.14 and a 200-day moving average price of $5.68.

Institutional Investors Weigh In On OLO

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in shares of OLO by 220.4% during the third quarter. JPMorgan Chase & Co. now owns 558,507 shares of the company’s stock worth $2,770,000 after buying an additional 384,196 shares in the last quarter. Barclays PLC grew its holdings in OLO by 399.3% during the 3rd quarter. Barclays PLC now owns 190,335 shares of the company’s stock worth $943,000 after acquiring an additional 152,214 shares in the last quarter. Geode Capital Management LLC grew its holdings in OLO by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,444,805 shares of the company’s stock worth $12,130,000 after acquiring an additional 42,318 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of OLO in the 3rd quarter valued at approximately $631,000. Finally, XTX Topco Ltd lifted its position in shares of OLO by 478.6% during the 3rd quarter. XTX Topco Ltd now owns 168,577 shares of the company’s stock worth $836,000 after purchasing an additional 139,441 shares during the last quarter. Institutional investors and hedge funds own 93.40% of the company’s stock.

OLO Company Profile

(Get Free Report)

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.

Further Reading

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