OLO (NYSE:OLO) Reaches New 1-Year High – Time to Buy?

Olo Inc. (NYSE:OLO) shares reached a new 52-week high on Friday . The stock traded as high as $7.49 and last traded at $7.48, with a volume of 1574676 shares traded. The stock had previously closed at $7.21.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of OLO from a “hold” rating to a “buy” rating in a research report on Monday.

OLO Stock Performance

The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -72.10 and a beta of 1.46. The business’s 50-day moving average is $5.73 and its two-hundred day moving average is $5.12.

Institutional Trading of OLO

Several hedge funds have recently bought and sold shares of OLO. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 purchasing an additional 4,382 shares during the last quarter. SG Americas Securities LLC acquired a new position in OLO during the second quarter worth $249,000. Conestoga Capital Advisors LLC increased its holdings in OLO by 30.6% during the second quarter. Conestoga Capital Advisors LLC now owns 310,310 shares of the company’s stock worth $1,372,000 after buying an additional 72,685 shares during the last quarter. Rhumbline Advisers increased its holdings in OLO by 3.3% during the second quarter. Rhumbline Advisers now owns 153,760 shares of the company’s stock worth $680,000 after buying an additional 4,979 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in OLO during the second quarter worth $227,000. 93.40% of the stock is currently owned by institutional investors and hedge funds.

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.