Sangoma Technologies Co. (NASDAQ:SANG) Sees Significant Growth in Short Interest

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

Sangoma Technologies Stock Down 1.9 %

Shares of Sangoma Technologies stock traded down $0.08 during trading on Friday, reaching $4.30. The stock had a trading volume of 508 shares, compared to its average volume of 5,509. The company has a market capitalization of $102.75 million, a price-to-earnings ratio of -4.73 and a beta of 1.35. The stock has a fifty day moving average price of $4.45 and a two-hundred day moving average price of $3.51. Sangoma Technologies has a 52 week low of $2.18 and a 52 week high of $4.98. 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 (NASDAQ:SANG) last released its earnings results on Thursday, February 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $62.28 million during the quarter, compared to analyst estimates of $63.60 million. Sangoma Technologies had a negative net margin of 11.92% and a negative return on equity of 2.77%. Sell-side analysts predict that Sangoma Technologies will post -0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Sangoma Technologies

Institutional investors have recently bought and sold shares of the business. National Bank of Canada FI increased its position in Sangoma Technologies by 47.7% during the third quarter. National Bank of Canada FI now owns 51,290 shares of the company’s stock worth $168,000 after buying an additional 16,567 shares during the last quarter. Claret Asset Management Corp increased its position in Sangoma Technologies by 111.4% during the third quarter. Claret Asset Management Corp now owns 185,622 shares of the company’s stock worth $645,000 after buying an additional 97,828 shares during the last quarter. Toronto Dominion Bank increased its position in Sangoma Technologies by 15.3% during the third quarter. Toronto Dominion Bank now owns 550,000 shares of the company’s stock worth $1,908,000 after buying an additional 73,100 shares during the last quarter. Finally, PenderFund Capital Management Ltd. increased 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 worth $10,586,000 after buying an additional 210,300 shares during the last quarter. Institutional investors and hedge funds 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.