SG Americas Securities LLC Buys New Shares in Ooma, Inc. (NYSE:OOMA)

SG Americas Securities LLC bought a new stake in Ooma, Inc. (NYSE:OOMA) in the third quarter, HoldingsChannel reports. The fund bought 10,105 shares of the technology company’s stock, valued at approximately $115,000.

A number of other hedge funds have also added to or reduced their stakes in OOMA. Cubist Systematic Strategies LLC bought a new position in shares of Ooma in the 2nd quarter valued at about $119,000. Mackenzie Financial Corp bought a new stake in shares of Ooma during the 2nd quarter worth about $238,000. Hsbc Holdings PLC boosted its holdings in shares of Ooma by 93.3% during the 2nd quarter. Hsbc Holdings PLC now owns 29,312 shares of the technology company’s stock worth $281,000 after buying an additional 14,150 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Ooma by 4.1% during the 2nd quarter. Renaissance Technologies LLC now owns 845,203 shares of the technology company’s stock worth $8,393,000 after buying an additional 33,100 shares during the period. Finally, Perritt Capital Management Inc boosted its holdings in shares of Ooma by 28.0% during the 2nd quarter. Perritt Capital Management Inc now owns 32,000 shares of the technology company’s stock worth $318,000 after buying an additional 7,000 shares during the period. Institutional investors own 80.42% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JMP Securities reaffirmed a “market perform” rating on shares of Ooma in a report on Wednesday, August 28th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Ooma currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

Ooma Price Performance

Shares of Ooma stock opened at $12.10 on Friday. The company has a 50-day simple moving average of $10.94 and a two-hundred day simple moving average of $9.33. The stock has a market capitalization of $324.28 million, a price-to-earnings ratio of -63.68 and a beta of 0.93. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 0.10. Ooma, Inc. has a twelve month low of $6.50 and a twelve month high of $12.43.

Ooma (NYSE:OOMA) last issued its earnings results on Tuesday, August 27th. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. The company had revenue of $64.13 million during the quarter, compared to analysts’ expectations of $62.72 million. Ooma had a negative net margin of 2.04% and a negative return on equity of 2.22%. Analysts forecast that Ooma, Inc. will post -0.1 EPS for the current year.

Ooma 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.