Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Olo Inc. shares valued at $69,537 were sold by Glass Noah H. on Mar 06. At $7.80 per share, Glass Noah H. sold 8,918 shares. The insider’s holdings dropped to 310,880 shares worth approximately $2.43 million following the completion of this transaction.
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Also, Benevides Peter J. sold 8,580 shares, netting a total of over 66,881 in proceeds. Following the sale of shares at $7.79 each, the insider now holds 353,004 shares.
Before that, Panama Diego had sold 2,820 shares from its account. In a trade valued at $21,985, the Chief Revenue Officer traded Olo Inc. shares for $7.80 each. Upon closing the transaction, the insider’s holdings decreased to 2,820 shares, worth approximately $5.31 million.
As published in their initiating research note from Goldman on October 19, 2022, Olo Inc. [OLO] has been a Neutral and the price target has been revised to $8.50. This represents a 7.88% premium over Thursday’s closing price. Analysts at Stifel downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid August. As of August 12, 2022, Piper Sandler has decreased its “an Overweight” rating to a “Neutral” for OLO. Earlier on August 11, 2021, Stifel upgraded its rating. Their new recommendation was “a Buy” for OLO stock which previously was a “a Hold”.
Analyzing OLO Stock Performance
On Thursday, Olo Inc. [NYSE: OLO] rose 4.26% to $7.83. The stock’s lowest price that day was $7.42, but it reached a high of $7.885 in the same session. During the last five days, there has been a surge of approximately 2.49%. Over the course of the year, Olo Inc. shares have jumped approximately 25.28%. Shares of the company reached a 52-week high of $9.12 on 02/23/23 and a 52-week low of $6.37 on 01/03/23. A 50-day SMA is recorded $7.74, while a 200-day SMA reached $8.53. Nevertheless, trading volume fell to 1.11 million shares from 0.84 million shares the previous day.
Support And Resistance Levels for Olo Inc. (OLO)
According to the 24-hour chart, there is a support level at 7.54, which, if violated, would cause prices to drop to 7.25. In the upper region, resistance lies at 8.00. The next price resistance is at 8.18. RSI (Relative Strength Index) is 51.13 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.10, which suggests the price will decrease in the coming days. Percent R is at 38.59%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Olo Inc. subject to short interest?
Stocks of Olo Inc. saw a sharp rise in short interest on Jan 12, 2023 jumping by 20000.0 shares to 12.12 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 12.1 million shares. A jump of 0.17% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 11.4 of the overall float, the days-to-cover ratio (short ratio) jumped to 11.4.
Which companies own the most shares of Olo Inc. (OLO)?
According to Brown Capital Management LLC filings, the company currently owns 13,165,077 shares, which is about 12.43% of the total OLO shares outstanding. The investor’s shares have appreciated by 140,444 from its previous 13-F filing of 13024633.0 shares. With the completion of the buy transaction, Kayne Anderson Rudnick Investment’s stake is now worth $97,478,922. The Vanguard Group, Inc. acquire a 2.06% interest valued at $78.25 million while Wellington Management Co. LLP sold a -2,993,366 stake. A total of 570,484 shares of Olo Inc. were sold by BlackRock Fund Advisors during the quarter, and 78,400 were bought by Nine Ten Capital Management LLC. In its current portfolio, Morgan Stanley Investment Managem holds 3,576,810 shares valued at $28.36 million.