GSA Capital Partners LLP Cuts Position in Ooma, Inc. (NYSE:OOMA)

GSA Capital Partners LLP lessened its holdings in Ooma, Inc. (NYSE:OOMA) by 26.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,821 shares of the technology company’s stock after selling 9,445 shares during the period. GSA Capital Partners LLP owned approximately 0.10% of Ooma worth $294,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Perkins Capital Management Inc. boosted its stake in shares of Ooma by 8.6% in the 3rd quarter. Perkins Capital Management Inc. now owns 168,100 shares of the technology company’s stock worth $1,915,000 after buying an additional 13,300 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Ooma in the 3rd quarter worth approximately $229,000. SG Americas Securities LLC bought a new stake in shares of Ooma in the 3rd quarter worth approximately $115,000. Cubist Systematic Strategies LLC bought a new stake in shares of Ooma in the 2nd quarter worth approximately $119,000. Finally, Mackenzie Financial Corp bought a new stake in shares of Ooma in the 2nd quarter worth approximately $238,000. Hedge funds and other institutional investors own 80.42% of the company’s stock.

Ooma Stock Performance

NYSE:OOMA opened at $14.22 on Friday. Ooma, Inc. has a 52-week low of $6.50 and a 52-week high of $14.38. The business’s fifty day moving average is $12.13 and its 200 day moving average is $10.10. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.83 and a current ratio of 1.15. The firm has a market cap of $381.10 million, a price-to-earnings ratio of -75.11 and a beta of 0.92.

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

Wall Street Analysts Forecast Growth

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

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.