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

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

Ooma Price Performance

Shares of NYSE OOMA opened at $15.36 on Friday. The firm has a 50-day moving average of $14.43 and a two-hundred day moving average of $12.49. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.08 and a quick ratio of 0.82. Ooma has a twelve month low of $6.50 and a twelve month high of $17.00.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director Andrew H. Galligan sold 14,824 shares of Ooma stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $14.56, for a total value of $215,837.44. Following the sale, the director now directly owns 241,932 shares in the company, valued at $3,522,529.92. This trade represents a 5.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William D. Pearce sold 3,700 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $15.54, for a total transaction of $57,498.00. Following the transaction, the director now directly owns 163,353 shares of the company’s stock, valued at $2,538,505.62. The trade was a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 158,457 shares of company stock valued at $2,413,132 over the last quarter. Insiders own 9.76% of the company’s stock.

Institutional Trading of Ooma

Several institutional investors and hedge funds have recently added to or reduced their stakes in OOMA. Marshall Wace LLP increased its holdings in shares of Ooma by 188.3% in the fourth quarter. Marshall Wace LLP now owns 146,621 shares of the technology company’s stock valued at $2,061,000 after buying an additional 95,765 shares in the last quarter. Barclays PLC grew its holdings in shares of Ooma by 0.9% in the 4th quarter. Barclays PLC now owns 99,891 shares of the technology company’s stock worth $1,405,000 after acquiring an additional 927 shares during the last quarter. Martingale Asset Management L P raised its position in shares of Ooma by 28.9% during the fourth quarter. Martingale Asset Management L P now owns 81,354 shares of the technology company’s stock worth $1,144,000 after purchasing an additional 18,227 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Ooma by 0.4% during the fourth quarter. Renaissance Technologies LLC now owns 826,103 shares of the technology company’s stock valued at $11,615,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its position in shares of Ooma by 22.5% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 30,174 shares of the technology company’s stock valued at $424,000 after purchasing an additional 5,539 shares during the period. 80.42% of the stock is owned by institutional investors and hedge funds.

About Ooma

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.