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

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

Ooma Stock Up 0.8 %

OOMA traded up $0.12 during trading hours on Friday, reaching $15.47. The company’s stock had a trading volume of 73,541 shares, compared to its average volume of 96,679. Ooma has a 52 week low of $6.50 and a 52 week high of $17.00. The company’s 50-day moving average is $14.44 and its 200-day moving average is $12.55. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.04.

Insider Activity at Ooma

In other Ooma news, Director Andrew H. Galligan sold 14,824 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 241,932 shares of the company’s stock, valued at $3,522,529.92. This represents a 5.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric B. Stang sold 61,580 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $15.10, for a total value of $929,858.00. Following the transaction, the chief executive officer now directly owns 1,245,665 shares of the company’s stock, valued at approximately $18,809,541.50. This trade represents a 4.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 158,457 shares of company stock worth $2,413,132. 9.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in Ooma during the 4th quarter worth $92,000. Virtus Investment Advisers Inc. bought a new position in Ooma during the 3rd quarter worth $98,000. SG Americas Securities LLC bought a new position in Ooma during the 3rd quarter worth $115,000. Paloma Partners Management Co bought a new position in Ooma during the 3rd quarter worth $126,000. Finally, EntryPoint Capital LLC bought a new position in Ooma during the 4th quarter worth $153,000. Institutional investors own 80.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OOMA shares. B. Riley upped 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. Benchmark upped their price objective on Ooma from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. StockNews.com upgraded Ooma from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 6th. Lake Street Capital upped their price objective on Ooma from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Northland Securities upped their price objective on Ooma from $16.00 to $18.00 and gave the stock an “outperform” 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 data from MarketBeat, Ooma currently has an average rating of “Buy” and a consensus target price of $16.60.

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.