Ooma, Inc. (OOMA) Sees Significant Decline in Short Interest
Ooma, Inc. (NYSE:OOMA) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 556,076 shares, a drop of 31.3% from the August 31st total of 809,439 shares. Based on an average daily trading volume, of 75,441 shares, the short-interest ratio is presently 7.4 days. Approximately 3.5% of the company’s shares are short sold.
A number of research analysts have commented on the company. Northland Securities restated a “buy” rating and set a $10.75 price objective on shares of Ooma in a research note on Wednesday. B. Riley reaffirmed a “buy” rating and issued a $13.00 target price on shares of Ooma in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Ooma currently has a consensus rating of “Hold” and a consensus target price of $11.92.
In related news, VP Spencer D. Jackson sold 10,810 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $9.51, for a total value of $102,803.10. Following the completion of the sale, the vice president now directly owns 115,496 shares in the company, valued at approximately $1,098,366.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP James A. Gustke sold 7,200 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $10.35, for a total value of $74,520.00. Following the completion of the sale, the vice president now owns 182,174 shares of the company’s stock, valued at $1,885,500.90. The disclosure for this sale can be found here. Insiders sold 66,371 shares of company stock worth $671,551 in the last 90 days. 11.42% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its holdings in Ooma by 86.9% during the first quarter. Bank of New York Mellon Corp now owns 19,150 shares of the technology company’s stock valued at $191,000 after buying an additional 8,904 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Ooma by 97.1% in the first quarter. Ameriprise Financial Inc. now owns 1,356,000 shares of the technology company’s stock worth $13,493,000 after buying an additional 668,100 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Ooma in the first quarter worth about $189,000. Oxford Asset Management lifted its position in shares of Ooma by 848.3% in the first quarter. Oxford Asset Management now owns 123,871 shares of the technology company’s stock worth $1,233,000 after buying an additional 110,809 shares during the last quarter. Finally, Spark Investment Management LLC lifted its position in shares of Ooma by 50.7% in the first quarter. Spark Investment Management LLC now owns 22,300 shares of the technology company’s stock worth $221,000 after buying an additional 7,500 shares during the last quarter. 73.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ooma (NYSE OOMA) opened at 10.80 on Wednesday. The stock’s market cap is $199.50 million. The stock’s 50 day moving average is $10.05 and its 200-day moving average is $10.05. Ooma has a 1-year low of $8.39 and a 1-year high of $10.80.
Ooma (NYSE:OOMA) last released its quarterly earnings results on Thursday, August 24th. The technology company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.16). Ooma had a negative net margin of 11.48% and a negative return on equity of 30.96%. The business had revenue of $28.20 million for the quarter, compared to the consensus estimate of $27.72 million. During the same quarter in the prior year, the business posted ($0.05) EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, analysts anticipate that Ooma will post ($0.10) EPS for the current year.
Ooma, Inc is a United States-based company, which offers Ooma, a communications platform for small businesses and consumers. Ooma serves as a communications hub, which offers cloud-based telephony, Internet security, home monitoring and other connected services. Ooma combines PureVoice high definition (HD) call quality features with mobile applications anytime, anywhere calling.
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