OLO (NYSE:OLO) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of OLO (NYSE:OLO) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

OLO Stock Up 2.0 %

OLO stock opened at $7.62 on Tuesday. OLO has a 52-week low of $4.20 and a 52-week high of $7.76. The company has a market capitalization of $1.25 billion, a PE ratio of -76.20 and a beta of 1.46. The stock’s 50 day moving average is $5.89 and its two-hundred day moving average is $5.19.

Institutional Investors Weigh In On OLO

Institutional investors have recently made changes to their positions in the company. Barclays PLC boosted its position in OLO by 399.3% during the 3rd quarter. Barclays PLC now owns 190,335 shares of the company’s stock valued at $943,000 after purchasing an additional 152,214 shares during the period. Geode Capital Management LLC boosted its position in OLO by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,444,805 shares of the company’s stock valued at $12,130,000 after purchasing an additional 42,318 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in OLO during the 3rd quarter valued at approximately $631,000. XTX Topco Ltd boosted its position in OLO by 478.6% during the 3rd quarter. XTX Topco Ltd now owns 168,577 shares of the company’s stock valued at $836,000 after purchasing an additional 139,441 shares during the period. Finally, Zacks Investment Management boosted its position in OLO by 26.7% during the 3rd quarter. Zacks Investment Management now owns 82,699 shares of the company’s stock valued at $410,000 after purchasing an additional 17,447 shares during the period. 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.