Sangoma Technologies Co. (NASDAQ:SANG) Sees Large Decline in Short Interest

Sangoma Technologies Co. (NASDAQ:SANG) was the recipient of a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 8,900 shares, a decline of 34.1% from the November 30th total of 13,500 shares. Based on an average daily volume of 7,900 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.0% of the shares of the company are sold short.

Sangoma Technologies Stock Performance

Shares of NASDAQ:SANG traded down $0.04 during trading on Friday, hitting $7.00. 21,142 shares of the company traded hands, compared to its average volume of 7,602. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. The business’s fifty day moving average is $6.32 and its 200-day moving average is $5.67. The stock has a market capitalization of $233.38 million, a price-to-earnings ratio of -28.00 and a beta of 1.44. Sangoma Technologies has a one year low of $2.50 and a one year high of $7.16.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank boosted its holdings in shares of Sangoma Technologies by 1.3% during the second quarter. Toronto Dominion Bank now owns 500,353 shares of the company’s stock valued at $2,471,000 after acquiring an additional 6,243 shares during the period. Intact Investment Management Inc. bought a new position in Sangoma Technologies in the 3rd quarter worth about $1,587,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of 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 valued at $808,000 after purchasing an additional 32,000 shares during the period. Bard Associates Inc. raised its holdings in shares of Sangoma Technologies by 8.8% during the third quarter. Bard Associates Inc. now owns 88,161 shares of the company’s stock valued at $474,000 after buying an additional 7,141 shares during the last quarter. Finally, National Bank of Canada FI grew its position in Sangoma Technologies by 13.2% in the 3rd 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 in the last quarter. 39.65% of the stock is currently owned by 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.