OLO (NYSE:OLO) Hits New 12-Month High – What’s Next?

Olo Inc. (NYSE:OLO) reached a new 52-week high on Monday . The company traded as high as $7.90 and last traded at $7.90, with a volume of 818006 shares trading hands. The stock had previously closed at $7.71.

Analysts Set New Price Targets

Separately, StockNews.com lowered OLO from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th.

OLO Price Performance

The business’s 50-day moving average is $6.06 and its 200 day moving average is $5.25.

Hedge Funds Weigh In On OLO

Several institutional investors and hedge funds have recently bought and sold shares of OLO. SG Americas Securities LLC purchased a new stake in shares of OLO during the second quarter valued at approximately $249,000. Conestoga Capital Advisors LLC increased its stake in shares of OLO by 30.6% in the second quarter. Conestoga Capital Advisors LLC now owns 310,310 shares of the company’s stock worth $1,372,000 after buying an additional 72,685 shares during the period. Rhumbline Advisers raised its holdings in OLO by 3.3% during the 2nd quarter. Rhumbline Advisers now owns 153,760 shares of the company’s stock valued at $680,000 after buying an additional 4,979 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in OLO during the 2nd quarter valued at $227,000. Finally, American Century Companies Inc. grew its holdings in OLO by 14.6% in the 2nd quarter. American Century Companies Inc. now owns 150,640 shares of the company’s stock worth $666,000 after acquiring an additional 19,137 shares during the last quarter. 93.40% of the stock is currently owned by institutional investors.

OLO Company Profile

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.