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

Ooma, Inc. (NYSE:OOMA) was the recipient of a significant drop in short interest in 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 daily trading volume, of 128,800 shares, the short-interest ratio is currently 3.8 days.

Analyst Upgrades and Downgrades

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

Ooma Stock Up 0.8 %

NYSE OOMA traded up $0.12 on Friday, hitting $15.47. 73,541 shares of the stock were exchanged, compared to its average volume of 96,679. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04. Ooma has a fifty-two week low of $6.50 and a fifty-two week high of $17.00. The company has a 50-day moving average price of $14.44 and a 200-day moving average price of $12.55.

Insider Transactions at Ooma

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in OOMA. SG Americas Securities LLC acquired a new position in Ooma during the 3rd quarter worth approximately $115,000. Perkins Capital Management Inc. boosted its holdings in shares of Ooma by 8.6% in the 3rd quarter. Perkins Capital Management Inc. now owns 168,100 shares of the technology company’s stock valued at $1,915,000 after buying an additional 13,300 shares in the last quarter. Bard Associates Inc. acquired a new position in shares of Ooma in the 3rd quarter valued at $232,000. Gladius Capital Management LP acquired a new position in shares of Ooma in the 3rd quarter valued at $165,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Ooma by 69.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 163,212 shares of the technology company’s stock valued at $1,859,000 after buying an additional 66,678 shares in the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.

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.