Today, Ooma Inc. (OOMA) Earns “Buy” Rating from B. Riley

Today, Ooma Inc. (OOMA) Earns “Buy” Rating from B. Riley

Ooma Inc. (NYSE:OOMA)‘s stock had its “buy” rating reissued by investment analysts at B. Riley in a research report issued to clients and investors on Monday. They presently have a $15.50 target price on the stock. B. Riley’s price objective would suggest a potential upside of 70.33% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Credit Suisse Group AG restated a “buy” rating on shares of Ooma in a research report on Wednesday, August 31st. Bank of America Corp. restated a “buy” rating and issued a $12.00 target price on shares of Ooma in a research report on Wednesday, August 31st. Zacks Investment Research upgraded Ooma from a “sell” rating to a “hold” rating in a research report on Wednesday, November 2nd. Finally, JMP Securities upped their target price on Ooma from $12.00 to $14.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 31st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Ooma currently has an average rating of “Buy” and an average price target of $12.71.

Ooma (NYSE:OOMA) traded down 0.55% during mid-day trading on Monday, reaching $9.10. The company’s stock had a trading volume of 66,847 shares. Ooma has a 52 week low of $5.43 and a 52 week high of $9.92. The firm has a 50-day moving average of $8.82 and a 200-day moving average of $8.38. The stock’s market capitalization is $158.37 million.

In other Ooma news, VP James A. Gustke sold 4,000 shares of the business’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $9.01, for a total transaction of $36,040.00. Following the sale, the vice president now directly owns 222,163 shares of the company’s stock, valued at approximately $2,001,688.63. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP James A. Gustke sold 6,000 shares of the business’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $8.97, for a total transaction of $53,820.00. Following the sale, the vice president now directly owns 194,327 shares in the company, valued at $1,743,113.19. The disclosure for this sale can be found here. Insiders own 48.19% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Group LTD purchased a new stake in shares of Ooma during the third quarter valued at about $129,000. Morgan Stanley increased its position in Ooma by 14.2% in the third quarter. Morgan Stanley now owns 15,967 shares of the company’s stock worth $145,000 after buying an additional 1,991 shares during the period. DIAM Co. Ltd. increased its position in Ooma by 76.5% in the third quarter. DIAM Co. Ltd. now owns 17,300 shares of the company’s stock worth $157,000 after buying an additional 7,500 shares during the period. Acadian Asset Management LLC bought a new position in Ooma during the third quarter worth $167,000. Finally, BlackRock Fund Advisors increased its position in Ooma by 46.2% in the second quarter. BlackRock Fund Advisors now owns 22,626 shares of the company’s stock worth $185,000 after buying an additional 7,150 shares during the period. 25.94% of the stock is currently owned by institutional investors.

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