NEW YORK — Shares of cybersecurity company Rapid7 surged in their first day of trading, while those of Internet-based phone service company Ooma slumped in their market debut.
The offering from Rapid7 Inc. was priced at $16 per share, above the company's expectations. Ooma Inc.'s IPO priced at $13 per share, which was below early estimates.
Rapid7 shares rose $9.28, or 58 percent, to close at $25.28, while Ooma stock lost $2.05, or 15.8 percent, to $10.95.
Rapid7 is based in Boston and the company says its programs collect and analyze security data so its clients can reduce threats, respond to breaches when they occur, and give clients data they can use to improve their security. The company's offering of 6.5 million shares raised $103.2 million before expenses. Rapid7 had expected the shares to start at $13 to $15 each.
The stock is trading under the ticker symbol "RPD" on the Nasdaq market.
Ooma, of Palo Alto, California, provides Internet-based phone services for homes and small businesses. The company sold 5 million shares, raising $65 million. The company's early estimates were that the offering would be priced at $16 to $18 per share.
The company's home service works with Google's Nest smart thermostat, notifying users of possible fires, handling event scheduling and alerts, and forwarding calls based on home occupancy sensors. The stock is trading under the symbol "OOMA" on the New York Stock Exchange.
Also moving higher were shares of MCBC Holdings Inc., the maker of MasterCraft sport boats. The Vonore, Tennessee-based company raised $91.1 million by selling 6.1 million shares for $15 each, at the high end of its estimates.
Trading under the symbol "MCFT" on the Nasdaq, MCBC Holdings shares rose 92 cents, or 6.1 percent, close at $15.92.