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

Shares of Olo Inc. (NYSE:OLO) 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 changing hands.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank of Canada upped their target price on shares of OLO from $8.00 to $9.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. StockNews.com lowered OLO from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler restated a “neutral” rating and set a $8.00 price objective on shares of OLO in a report on Wednesday.

OLO Price Performance

The company has a market cap of $1.22 billion, a price-to-earnings ratio of -74.59 and a beta of 1.42. The stock has a 50-day moving average price of $7.04 and a 200 day moving average price of $5.65.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of OLO. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of OLO by 52.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,410,528 shares of the company’s stock worth $6,996,000 after acquiring an additional 487,919 shares during the period. Essex Investment Management Co. LLC bought a new stake in shares of OLO in the third quarter valued at about $2,236,000. JPMorgan Chase & Co. grew its holdings 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. Algert Global LLC lifted its stake in OLO by 114.0% in the 2nd quarter. Algert Global LLC now owns 710,319 shares of the company’s stock valued at $3,140,000 after acquiring an additional 378,368 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in OLO by 154.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 567,864 shares of the company’s stock worth $2,510,000 after acquiring an additional 344,676 shares during the last quarter. Institutional investors own 93.40% of the company’s stock.

OLO Company Profile

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.