Ooma (NYSE:OOMA) Shares Cross Below 50-Day Moving Average of $8.68

Shares of Ooma, Inc. (NYSE:OOMA) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $8.68 and traded as low as $6.50. Ooma shares last traded at $6.79, with a volume of 156,898 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. TheStreet downgraded Ooma from a “c” rating to a “d+” rating in a research note on Tuesday, March 5th. B. Riley reissued a “buy” rating and set a $14.50 target price (down previously from $19.00) on shares of Ooma in a research note on Wednesday, March 6th. Alliance Global Partners decreased their target price on Ooma from $16.00 to $14.50 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. Finally, Benchmark decreased their target price on Ooma from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $14.67.

Ooma Stock Up 1.2 %

The stock has a market cap of $181.77 million, a P/E ratio of -228.17 and a beta of 0.81. The company’s fifty day moving average price is $8.54 and its 200-day moving average price is $10.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.85 and a current ratio of 1.24.

Ooma (NYSE:OOMA) last posted its quarterly earnings results on Tuesday, March 5th. The technology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. The company had revenue of $61.68 million for the quarter, compared to the consensus estimate of $61.46 million. Ooma had a negative net margin of 0.35% and a positive return on equity of 0.35%. Equities analysts forecast that Ooma, Inc. will post -0.11 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OOMA. Covestor Ltd boosted its holdings in shares of Ooma by 31.6% in the 3rd quarter. Covestor Ltd now owns 3,943 shares of the technology company’s stock valued at $51,000 after buying an additional 946 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Ooma by 84.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,191 shares of the technology company’s stock valued at $56,000 after buying an additional 2,384 shares in the last quarter. Corton Capital Inc. bought a new stake in shares of Ooma in the 3rd quarter valued at about $142,000. Hsbc Holdings PLC bought a new stake in shares of Ooma in the 3rd quarter valued at about $291,000. Finally, Teton Advisors Inc. boosted its holdings in shares of Ooma by 60.0% in the 3rd quarter. Teton Advisors Inc. now owns 40,000 shares of the technology company’s stock valued at $520,000 after buying an additional 15,000 shares in the last quarter. Hedge funds and other institutional investors own 80.42% of the company’s stock.

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.