Ooma (NYSE:OOMA) Stock Passes Above 50 Day Moving Average – Here’s Why

Shares of Ooma, Inc. (NYSE:OOMA) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $14.43 and traded as high as $15.09. Ooma shares last traded at $14.44, with a volume of 108,350 shares changing hands.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. B. Riley lifted their target price on shares of Ooma from $14.50 to $15.50 and gave the company a “buy” rating in a report on Monday, November 25th. Benchmark lifted their target price on shares of Ooma from $15.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Northland Securities lifted their target price on shares of Ooma from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. StockNews.com upgraded shares of Ooma from a “buy” rating to a “strong-buy” rating in a report on Friday, December 6th. Finally, Lake Street Capital boosted their price target on shares of Ooma from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. One equities research 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 MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $16.60.

Ooma Trading Down 3.3 %

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.08 and a quick ratio of 0.82. The business’s 50 day moving average is $14.43 and its 200 day moving average is $12.75. The stock has a market cap of $389.88 million, a price-to-earnings ratio of -39.03 and a beta of 0.96.

Insider Buying and Selling

In related news, CFO Shigeyuki Hamamatsu sold 35,313 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $15.51, for a total value of $547,704.63. Following the completion of the sale, the chief financial officer now directly owns 165,301 shares of the company’s stock, valued at $2,563,818.51. The trade was a 17.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew H. Galligan sold 14,824 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were 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 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 158,457 shares of company stock worth $2,413,132. Corporate insiders own 9.76% of the company’s stock.

Institutional Investors Weigh In On Ooma

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new stake in Ooma in the fourth quarter valued at $92,000. Virtus Investment Advisers Inc. purchased a new stake in Ooma in the third quarter valued at $98,000. SG Americas Securities LLC purchased a new stake in Ooma in the third quarter valued at $115,000. Paloma Partners Management Co purchased a new stake in Ooma in the third quarter valued at $126,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Ooma in the fourth quarter valued at about $153,000. 80.42% of the stock is owned by hedge funds and other institutional investors.

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.