Olo Inc. (NYSE:OLO) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 2,530,000 shares, an increase of 30.4% from the August 15th total of 1,940,000 shares. Based on an average daily volume of 704,300 shares, the days-to-cover ratio is presently 3.6 days. Approximately 9.6% of the shares of the company are short sold.
In other news, CFO Peter J. Benevides sold 9,000 shares of the company’s stock in a transaction dated Tuesday, September 14th. The stock was sold at an average price of $33.17, for a total value of $298,530.00. Following the completion of the transaction, the chief financial officer now directly owns 9,000 shares in the company, valued at approximately $298,530. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Andrew J. Murray sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 16th. The stock was sold at an average price of $33.52, for a total value of $838,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,575 shares of company stock worth $2,200,670.
Large investors have recently bought and sold shares of the business. Nellore Capital Management LLC bought a new stake in OLO during the first quarter valued at about $26,000. Castleview Partners LLC purchased a new position in shares of OLO during the second quarter valued at about $47,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of OLO during the first quarter valued at about $48,000. JPMorgan Chase & Co. grew its position in shares of OLO by 137.4% during the second quarter. JPMorgan Chase & Co. now owns 1,885 shares of the company’s stock valued at $70,000 after purchasing an additional 1,091 shares in the last quarter. Finally, Citigroup Inc. purchased a new position in OLO in the first quarter worth about $106,000. 47.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of OLO stock traded up $0.34 during midday trading on Tuesday, hitting $33.42. The company had a trading volume of 24,757 shares, compared to its average volume of 718,632. The firm has a 50 day moving average price of $36.41. OLO has a 52-week low of $22.88 and a 52-week high of $49.00.
OLO (NYSE:OLO) last issued its earnings results on Tuesday, August 10th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. The business had revenue of $35.90 million for the quarter, compared to analysts’ expectations of $34.17 million. The business’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.05 earnings per share. Research analysts predict that OLO will post -0.06 earnings per share for the current fiscal year.
Olo Inc provides software-as-a-service platform for multi-location restaurants in the United States. The company's platform enables on-demand commerce operations, which cover digital ordering and delivery through online and mobile ordering modules. Its modules include Ordering, an on-demand commerce solution that enables consumers to order directly from and pay restaurants via mobile, web, kiosk, voice, and other digital channels; Dispatch, a fulfillment solution, which enables restaurants to offer, manage, and expand direct delivery; and Rails, an aggregator and channel management solution, which allows restaurants to control and syndicate menu, pricing, location data, and availability.
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