Ooma, Inc. (NYSE:OOMA) Sees Large Drop in Short Interest

Ooma, Inc. (NYSE:OOMA) was the recipient of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 489,700 shares, a decrease of 23.2% from the January 15th total of 637,600 shares. Based on an average daily volume of 128,800 shares, the short-interest ratio is presently 3.8 days.

Insider Buying and Selling

In other Ooma news, Director Andrew H. Galligan sold 14,824 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $14.56, for a total transaction of $215,837.44. Following the completion of the sale, the director now directly owns 241,932 shares in the company, valued at $3,522,529.92. This represents a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP James A. Gustke sold 3,582 shares of Ooma stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $17.00, for a total value of $60,894.00. Following the completion of the transaction, the senior vice president now directly owns 27,675 shares in the company, valued at $470,475. This represents a 11.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 158,457 shares of company stock valued at $2,413,132. Insiders own 9.76% of the company’s stock.

Institutional Investors Weigh In On Ooma

Hedge funds have recently bought and sold shares of the business. State Street Corp raised its position in shares of Ooma by 2.9% in the 3rd quarter. State Street Corp now owns 475,737 shares of the technology company’s stock valued at $5,419,000 after purchasing an additional 13,240 shares in the last quarter. Walleye Capital LLC increased its stake in shares of Ooma by 101.6% in the third quarter. Walleye Capital LLC now owns 55,029 shares of the technology company’s stock worth $627,000 after buying an additional 27,727 shares during the last quarter. Barclays PLC raised its holdings in Ooma by 32.7% in the third quarter. Barclays PLC now owns 98,964 shares of the technology company’s stock valued at $1,128,000 after acquiring an additional 24,402 shares in the last quarter. Inspire Investing LLC bought a new position in Ooma during the 4th quarter valued at $802,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Ooma by 69.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,212 shares of the technology company’s stock worth $1,859,000 after acquiring an additional 66,678 shares in the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on OOMA shares. Lake Street Capital lifted their price target on shares of Ooma from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Benchmark upped their price target on shares of Ooma from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Northland Securities raised their price objective on Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. B. Riley boosted their price objective on Ooma from $14.50 to $15.50 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, StockNews.com upgraded Ooma from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Ooma has a consensus rating of “Buy” and a consensus price target of $16.60.

Ooma Stock Up 3.8 %

Shares of Ooma stock opened at $15.36 on Friday. Ooma has a 1-year low of $6.50 and a 1-year high of $17.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.82 and a current ratio of 1.08. The business has a 50-day moving average of $14.43 and a 200-day moving average of $12.49.

Ooma Company Profile

Ooma, Inc provides communications services and related technologies for businesses and consumers in the United States and Canada. The company's products and services include Ooma Office, a cloud-based multi-user communications system for small and medium-sized businesses; Ooma Connect, which delivers fixed wireless internet connectivity; and Ooma Enterprise, a unified-communications-as-a-service (UCaaS) solution.