Perritt Capital Management Inc Buys 7,000 Shares of Ooma, Inc. (NYSE:OOMA)

Perritt Capital Management Inc lifted its stake in Ooma, Inc. (NYSE:OOMA) by 28.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,000 shares of the technology company’s stock after purchasing an additional 7,000 shares during the period. Perritt Capital Management Inc owned 0.12% of Ooma worth $318,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its position in shares of Ooma by 37.4% during the first quarter. Russell Investments Group Ltd. now owns 579,342 shares of the technology company’s stock worth $4,942,000 after acquiring an additional 157,569 shares during the last quarter. Vanguard Group Inc. increased its position in Ooma by 5.7% in the first quarter. Vanguard Group Inc. now owns 1,266,320 shares of the technology company’s stock worth $10,802,000 after purchasing an additional 68,430 shares during the period. Boston Partners raised its holdings in Ooma by 382.5% during the 1st quarter. Boston Partners now owns 463,079 shares of the technology company’s stock worth $3,940,000 after purchasing an additional 367,099 shares during the last quarter. Acadian Asset Management LLC lifted its position in Ooma by 40.4% during the 2nd quarter. Acadian Asset Management LLC now owns 535,404 shares of the technology company’s stock valued at $5,314,000 after purchasing an additional 154,117 shares during the period. Finally, Trigran Investments Inc. boosted its stake in shares of Ooma by 9.9% in the 4th quarter. Trigran Investments Inc. now owns 4,036,263 shares of the technology company’s stock valued at $43,309,000 after purchasing an additional 364,908 shares during the last quarter. Institutional investors own 80.42% of the company’s stock.

Ooma Stock Performance

Shares of NYSE:OOMA opened at $11.08 on Thursday. The firm’s 50 day simple moving average is $9.52 and its 200 day simple moving average is $8.72. Ooma, Inc. has a fifty-two week low of $6.50 and a fifty-two week high of $13.68. The company has a market capitalization of $292.51 million, a price-to-earnings ratio of -110.80 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.16 and a quick ratio of 0.81.

Wall Street Analysts Forecast Growth

OOMA has been the subject of a number of recent research reports. Lake Street Capital began coverage on shares of Ooma in a research note on Monday, June 17th. They set a “buy” rating and a $14.00 price target for the company. JMP Securities reiterated a “market perform” rating on shares of Ooma in a research report on Wednesday, August 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.50.

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.