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

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 traded.

Analyst Ratings Changes

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

Ooma Price Performance

The firm has a 50-day simple moving average of $14.43 and a two-hundred day simple moving average of $12.75. The company has a market capitalization of $389.88 million, a price-to-earnings ratio of -39.03 and a beta of 0.96. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.04.

Insiders Place Their Bets

In other Ooma news, CEO Eric B. Stang sold 61,580 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were 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 $18,809,541.50. This trade represents a 4.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew H. Galligan sold 14,824 shares of the firm’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 directly owns 241,932 shares in the company, valued at $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. In the last three months, insiders have sold 158,457 shares of company stock valued at $2,413,132. Company insiders own 9.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its position in shares of Ooma by 284.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 253,016 shares of the technology company’s stock valued at $3,557,000 after buying an additional 187,245 shares during the period. Alliancebernstein L.P. raised its position in shares of Ooma by 674.1% during the 4th quarter. Alliancebernstein L.P. now owns 128,430 shares of the technology company’s stock valued at $1,806,000 after buying an additional 111,840 shares during the period. Marshall Wace LLP raised its position in shares of Ooma by 188.3% during the 4th 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 during the period. Norges Bank purchased a new stake in shares of Ooma during the 4th quarter valued at approximately $1,067,000. Finally, Vanguard Group Inc. raised its position in shares of Ooma by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 1,338,725 shares of the technology company’s stock valued at $18,822,000 after buying an additional 71,247 shares during the period. 80.42% of the stock is owned by hedge funds and other institutional investors.

Ooma Company Profile

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.