OLO (NYSE:OLO) Shares Gap Down – Should You Sell?

Olo Inc. (NYSE:OLO) shares 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.

Analyst Upgrades and Downgrades

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

OLO Trading Down 4.3 %

The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -72.79 and a beta of 1.42. The stock’s fifty day moving average price is $7.14 and its 200-day moving average price is $5.68.

Institutional Investors Weigh In On OLO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its holdings in shares of OLO by 6.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,023 shares of the company’s stock worth $186,000 after purchasing an additional 2,433 shares during the period. MQS Management LLC boosted its stake in OLO by 15.9% during the third quarter. MQS Management LLC now owns 28,363 shares of the company’s stock worth $141,000 after buying an additional 3,898 shares during the period. Creative Planning increased its position in shares of OLO by 15.1% during the third quarter. Creative Planning now owns 30,371 shares of the company’s stock valued at $151,000 after acquiring an additional 3,974 shares during the last quarter. Point72 DIFC Ltd raised its stake in shares of OLO by 52.7% in the 2nd quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock valued at $64,000 after acquiring an additional 4,964 shares during the period. Finally, Rhumbline Advisers raised its stake 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 acquiring an additional 4,979 shares during the period. Institutional investors and hedge funds own 93.40% of the company’s stock.

OLO Company Profile

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.