Sangoma Technologies Co. (NASDAQ:SANG) Short Interest Update

Sangoma Technologies Co. (NASDAQ:SANG) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 10,400 shares, a growth of 76.3% from the October 31st total of 5,900 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average trading volume of 9,100 shares, the days-to-cover ratio is presently 1.1 days.

Sangoma Technologies Stock Up 0.7 %

Shares of NASDAQ:SANG traded up $0.04 during midday trading on Thursday, hitting $6.17. 1,769 shares of the stock were exchanged, compared to its average volume of 7,319. The company has a market capitalization of $205.71 million, a PE ratio of -24.68 and a beta of 1.45. Sangoma Technologies has a 52-week low of $2.50 and a 52-week high of $6.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.68 and a current ratio of 0.91. The business’s fifty day simple moving average is $5.95 and its two-hundred day simple moving average is $5.45.

Sangoma Technologies (NASDAQ:SANG) last posted its quarterly earnings results on Wednesday, September 18th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The firm had revenue of $60.93 million for the quarter, compared to analysts’ expectations of $60.89 million. Sangoma Technologies had a negative return on equity of 3.12% and a negative net margin of 3.32%. During the same period last year, the business earned ($0.04) earnings per share. As a group, research analysts predict that Sangoma Technologies will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sangoma Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new position in Sangoma Technologies during the 2nd quarter valued at $188,000. National Bank of Canada FI raised its position in shares of Sangoma Technologies by 13.2% during the third quarter. National Bank of Canada FI now owns 72,259 shares of the company’s stock valued at $398,000 after buying an additional 8,439 shares during the last quarter. Unique Wealth LLC bought a new stake in shares of Sangoma Technologies in the second quarter valued at about $427,000. Bard Associates Inc. grew its position in Sangoma Technologies by 8.8% during 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Sangoma Technologies by 28.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,833 shares of the company’s stock valued at $808,000 after acquiring an additional 32,000 shares during the period. 39.65% of the stock is currently owned by institutional investors and hedge funds.

About Sangoma Technologies

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.