Ooma (NYSE:OOMA) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened

Ooma, Inc. (NYSE:OOMA)’s share price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $14.45 and traded as low as $14.43. Ooma shares last traded at $14.87, with a volume of 101,242 shares traded.

Analysts Set New Price Targets

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

Ooma Stock Performance

The firm has a market cap of $401.36 million, a price-to-earnings ratio of -40.17 and a beta of 0.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average of $14.45 and a 200 day moving average of $12.30.

Insider Buying and Selling at Ooma

In other news, Director Andrew H. Galligan sold 14,824 shares of the company’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 sale, the director now owns 241,932 shares in the company, valued at approximately $3,522,529.92. This represents a 5.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William D. Pearce sold 3,700 shares of Ooma stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $15.54, for a total value of $57,498.00. Following the completion of the transaction, the director now owns 163,353 shares of the company’s stock, valued at $2,538,505.62. This trade represents a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 158,457 shares of company stock valued at $2,413,132 in the last three months. Corporate insiders own 9.76% of the company’s stock.

Hedge Funds Weigh In On Ooma

Large investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp acquired a new stake in shares of Ooma during the second quarter worth $238,000. Cubist Systematic Strategies LLC bought a new stake in shares of Ooma during the 2nd quarter valued at about $119,000. SG Americas Securities LLC acquired a new stake in Ooma during the third quarter worth about $115,000. Essex Investment Management Co. LLC bought a new position in Ooma in the third quarter worth about $229,000. Finally, Perkins Capital Management Inc. boosted its stake in Ooma by 8.6% in the third quarter. Perkins Capital Management Inc. now owns 168,100 shares of the technology company’s stock valued at $1,915,000 after acquiring an additional 13,300 shares during the period. 80.42% of the stock is currently owned by 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.