Investors Purchase High Volume of OLO Call Options (NYSE:OLO)

Olo Inc. (NYSE:OLO) saw some unusual options trading on Thursday. Stock investors bought 5,018 call options on the company. This represents an increase of 3,117% compared to the typical daily volume of 156 call options.

OLO Trading Up 7.5 %

NYSE OLO opened at $8.65 on Friday. OLO has a 12 month low of $4.20 and a 12 month high of $8.83. The stock has a 50 day moving average of $6.39 and a 200-day moving average of $6.80. The company has a market cap of $1.44 billion, a PE ratio of -86.49 and a beta of 1.41.

OLO (NYSE:OLO) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $80.68 million during the quarter, compared to analysts’ expectations of $77.47 million. OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.05 earnings per share. As a group, sell-side analysts predict that OLO will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On OLO

Institutional investors have recently bought and sold shares of the business. Tandem Financial LLC bought a new position in shares of OLO during the 4th quarter worth approximately $26,000. Global Retirement Partners LLC bought a new position in OLO during the fourth quarter worth $27,000. SBI Securities Co. Ltd. acquired a new position in shares of OLO in the fourth quarter valued at $35,000. SMI Advisory Services LLC acquired a new position in shares of OLO in the first quarter valued at $62,000. Finally, Calamos Advisors LLC bought a new position in shares of OLO in the first quarter valued at about $63,000. Institutional investors and hedge funds own 93.40% of the company’s stock.

Wall Street Analyst Weigh In

OLO has been the subject of a number of recent research reports. Lake Street Capital upped their price target on OLO from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com lowered shares of OLO from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th.

OLO Company Profile

Olo, Inc engages in the provision of cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded in 2005 and is headquartered in New York, NY.