Olo Inc. (NYSE:OLO) Short Interest Update

Olo Inc. (NYSE:OLO - Get Free Report) saw a significant increase in short interest in May. As of May 15th, there was short interest totalling 3,920,000 shares, an increase of 23.3% from the April 30th total of 3,180,000 shares. Based on an average daily volume of 1,570,000 shares, the days-to-cover ratio is currently 2.5 days. Currently, 3.5% of the company's stock are short sold.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on OLO shares. Lake Street Capital increased their target price on OLO from $9.00 to $10.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Wall Street Zen lowered shares of OLO from a "buy" rating to a "hold" rating in a research note on Friday, May 30th.

Institutional Trading of OLO

Several institutional investors have recently added to or reduced their stakes in OLO. Tandem Financial LLC bought a new stake in shares of OLO in the 4th quarter worth about $26,000. Global Retirement Partners LLC acquired a new position in OLO in the fourth quarter worth about $27,000. SBI Securities Co. Ltd. bought a new stake in OLO in the fourth quarter valued at about $35,000. SMI Advisory Services LLC bought a new stake in OLO in the first quarter valued at about $62,000. Finally, Calamos Advisors LLC acquired a new stake in OLO during the first quarter valued at approximately $63,000. 93.40% of the stock is owned by institutional investors and hedge funds.

OLO Stock Performance

Shares of NYSE OLO traded up $0.13 during midday trading on Friday, reaching $8.95. 1,748,696 shares of the company's stock were exchanged, compared to its average volume of 1,265,856. OLO has a 52-week low of $4.20 and a 52-week high of $9.78. The business's fifty day moving average price is $7.45 and its two-hundred day moving average price is $7.26. The stock has a market capitalization of $1.49 billion, a PE ratio of -89.49 and a beta of 1.57.

OLO (NYSE:OLO - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $80.68 million for the quarter, compared to the consensus estimate of $77.47 million. OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. OLO's revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 EPS. Analysts predict that OLO will post -0.03 earnings per share for the current fiscal year.

About OLO

Olo, Inc engages in the provision of a cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded by Noah H. Glass on June 1, 2005 and is headquartered in New York, NY.