Short Interest in Sangoma Technologies Co. (NASDAQ:SANG) Rises By 157.7%

Sangoma Technologies Co. (NASDAQ:SANG) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 6,700 shares, a growth of 157.7% from the March 31st total of 2,600 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily volume of 8,600 shares, the short-interest ratio is currently 0.8 days.

Sangoma Technologies Stock Down 1.9 %

SANG traded down $0.08 during midday trading on Friday, reaching $4.30. The company’s stock had a trading volume of 508 shares, compared to its average volume of 8,166. The firm has a market capitalization of $102.77 million, a price-to-earnings ratio of -4.73 and a beta of 1.35. The company has a current ratio of 1.00, a quick ratio of 0.70 and a debt-to-equity ratio of 0.32. Sangoma Technologies has a 1 year low of $2.18 and a 1 year high of $4.98. The stock’s 50-day moving average is $4.45 and its 200-day moving average is $3.51.

Sangoma Technologies (NASDAQ:SANG) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Sangoma Technologies had a negative net margin of 11.92% and a negative return on equity of 2.77%. The firm had revenue of $62.28 million for the quarter, compared to analysts’ expectations of $63.60 million. As a group, research analysts expect that Sangoma Technologies will post -0.25 EPS for the current year.

Institutional Investors Weigh In On Sangoma Technologies

A number of institutional investors have recently made changes to their positions in the company. PenderFund Capital Management Ltd. lifted its position in Sangoma Technologies by 6.8% during the fourth quarter. PenderFund Capital Management Ltd. now owns 3,308,133 shares of the company’s stock valued at $10,586,000 after purchasing an additional 210,300 shares during the period. Toronto Dominion Bank raised its position in Sangoma Technologies by 15.3% in the third quarter. Toronto Dominion Bank now owns 550,000 shares of the company’s stock worth $1,908,000 after acquiring an additional 73,100 shares during the period. Claret Asset Management Corp raised its position in Sangoma Technologies by 111.4% in the third quarter. Claret Asset Management Corp now owns 185,622 shares of the company’s stock worth $645,000 after acquiring an additional 97,828 shares during the period. Finally, National Bank of Canada FI raised its position in Sangoma Technologies by 47.7% in the third quarter. National Bank of Canada FI now owns 51,290 shares of the company’s stock worth $168,000 after acquiring an additional 16,567 shares during the period. Hedge funds and other institutional investors own 39.65% of the company’s stock.

Sangoma Technologies Company Profile

Sangoma Technologies Corporation develops, manufactures, distributes, and supports voice and data connectivity components for software-based communication applications worldwide. The company offers Switchvox, a voice over internet protocol phone system; Switchvox Cloud, a unified communications solution, as well as provides cloud communication solutions.