Olo Inc. (NYSE:OLO – Get Free Report)’s share price hit a new 52-week low on Monday . The company traded as low as $4.25 and last traded at $4.30, with a volume of 193956 shares changing hands. The stock had previously closed at $4.42.
OLO Stock Down 2.3 %
The business’s 50 day moving average price is $4.63 and its 200-day moving average price is $5.15.
OLO (NYSE:OLO – Get Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. OLO had a negative net margin of 19.35% and a negative return on equity of 1.56%. The firm had revenue of $66.51 million during the quarter, compared to analysts’ expectations of $64.22 million. During the same quarter last year, the company posted ($0.06) EPS. The company’s quarterly revenue was up 27.3% compared to the same quarter last year. Sell-side analysts forecast that Olo Inc. will post -0.08 earnings per share for the current year.
Insiders Place Their Bets
Hedge Funds Weigh In On OLO
A number of institutional investors and hedge funds have recently modified their holdings of OLO. Charles Schwab Investment Management Inc. boosted its holdings in shares of OLO by 190.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 821,404 shares of the company’s stock worth $4,978,000 after buying an additional 538,231 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new position in shares of OLO in the 3rd quarter worth $82,000. Quadrature Capital Ltd bought a new position in shares of OLO in the 3rd quarter worth $220,000. Spouting Rock Asset Management LLC lifted its holdings in shares of OLO by 14.7% in the 3rd quarter. Spouting Rock Asset Management LLC now owns 33,175 shares of the company’s stock worth $201,000 after purchasing an additional 4,253 shares in the last quarter. Finally, Tudor Investment Corp Et Al lifted its holdings in shares of OLO by 81.9% in the 3rd quarter. Tudor Investment Corp Et Al now owns 414,511 shares of the company’s stock worth $2,512,000 after purchasing an additional 186,635 shares in the last quarter. 93.40% of the stock is currently owned by institutional investors.
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.
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