Short Interest in Sangoma Technologies Co. (NASDAQ:SANG) Rises By 37.1%

Sangoma Technologies Co. (NASDAQ:SANG) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 12,200 shares, an increase of 37.1% from the December 31st total of 8,900 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 7,900 shares, the days-to-cover ratio is currently 1.5 days.

Sangoma Technologies Price Performance

SANG traded down $0.31 during trading on Friday, reaching $7.05. The stock had a trading volume of 7,751 shares, compared to its average volume of 11,264. The stock has a market cap of $234.88 million, a PE ratio of -28.18 and a beta of 1.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.68 and a current ratio of 0.91. Sangoma Technologies has a one year low of $2.78 and a one year high of $7.99. The business has a 50-day moving average of $6.86 and a 200-day moving average of $6.03.

Sangoma Technologies (NASDAQ:SANG) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Sangoma Technologies had a negative net margin of 3.32% and a negative return on equity of 3.12%. The company had revenue of $60.15 million for the quarter, compared to the consensus estimate of $61.45 million. During the same period last year, the business posted ($0.07) earnings per share. As a group, equities research analysts anticipate that Sangoma Technologies will post -0.06 EPS for the current fiscal year.

Institutional Trading of Sangoma Technologies

A number of institutional investors have recently modified their holdings of SANG. Intact Investment Management Inc. purchased a new stake in Sangoma Technologies in the third quarter worth about $1,587,000. Bard Associates Inc. lifted its holdings in Sangoma Technologies by 8.8% in the third quarter. Bard Associates Inc. now owns 88,161 shares of the company’s stock worth $474,000 after buying an additional 7,141 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Sangoma Technologies by 28.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,833 shares of the company’s stock worth $808,000 after buying an additional 32,000 shares during the period. Finally, National Bank of Canada FI lifted its holdings in Sangoma Technologies by 13.2% in the third quarter. National Bank of Canada FI now owns 72,259 shares of the company’s stock worth $398,000 after buying an additional 8,439 shares during the period. 39.65% of the stock is currently owned by hedge funds and other institutional investors.

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.