Olo Inc. (OLO) gets rating Upgrade from Piper Sandler


Olo Inc.’s recently made public that its Chief Revenue Officer Panama Diego unloaded Company’s shares for reported $0.28 million on Aug 07. In the deal valued at $7.41 per share,37,766 shares were sold. As a result of this transaction, Panama Diego now holds 637,235 shares worth roughly $ 4.14 million.

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Then, Washington Zuhairah Scott sold 2,250 shares, generating $17,104 in total proceeds. Upon selling the shares at $7.60, the Director now owns 30,748 shares.

Before that, Glass Noah H. sold 8,334 shares. Olo Inc. shares valued at $60,700 were divested by the CEO at a price of $7.28 per share. As a result of the transaction, Glass Noah H. now holds 302,546 shares, worth roughly $1.97 million.

Piper Sandler upgraded its Olo Inc. [OLO] rating to an Overweight from a a Neutral in a research note published on Tuesday. PT values the company’s stock at a premium of 27.78 to its Tuesday closing price.

Price Performance Review of OLO

On Tuesday, Olo Inc. [NYSE:OLO] saw its stock fall -0.31% to $6.50. On the same session, the stock had its day’s lowest price of $6.43, but rose to a high of $6.53. Over the last five days, the stock has gained 2.36%. Olo Inc. shares have risen nearly 4.00% since the year began. Nevertheless, the stocks have fallen -14.70% over the past one year. While a 52-week high of $9.55 was reached on 02/23/23, a 52-week low of $5.74 was recorded on 07/10/23. SMA at 50 days reached $6.73, while 200 days put it at $7.20. A total of 0.75 million shares were traded, compared to the trading of 0.97 million shares in the previous session.

Levels Of Support And Resistance For OLO Stock

The 24-hour chart illustrates a support level at 6.44, which if violated will result in even more drops to 6.39. On the upside, there is a resistance level at 6.54. A further resistance level may holdings at 6.59. The Relative Strength Index (RSI) on the 14-day chart is 44.33, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.07, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 32.73%. Stochastics %K at 69.70% indicates the stock is a holding.

How much short interest is there in Olo Inc.?

A steep rise in short interest was recorded in Olo Inc. stocks on Aug 14, 2023, dropping by -0.74 million shares to a total of 10.16 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 10.9 million shares. There was a decline of -7.28%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 12.62% of the overall stock float, the days-to-cover ratio (short ratio) fell to 7.67.

Olo Inc. [OLO] – Who Are The Largest Shareholders?

In filings from Brown Capital Management LLC, it is revealed that the company now owns 16,227,945 shares, or roughly 15.54% of the outstanding OLO shares. In other words, the investor’s shares have risen by 1,335,223 from its previous 13-F filing of 14892722.0. Additionally, Kayne Anderson Rudnick Investment decreased -0.19% of its stake after which the total value it holdings stand at $92,989,624, while The Vanguard Group, Inc. added 14.72% of its stake to hold $87.53 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 768,691 shares of Olo Inc., while Nine Ten Capital Management LLC bought -778,669 shares. At present, Allspring Global Investments LLC is holding 2,823,993 shares valued at $22.2 million. New York State Common Retirement owned 2,675,359 shares of the company at the time of its most recent 13F filing, worth $21.03 million.

According to FactSet, Olo Inc.’s share price will average $10.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 61.04 percent from its previous closing price of $6.52. Analysts expect Olo Inc. stock to reach the higher price of $12.00, while the lowest price estimate is $9.00. However, 8 analysts have rated OLO stock as an Overweight in their predictions for 2023.


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