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

Sangoma Technologies Co. (NASDAQ:SANG) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 4,800 shares, a drop of 15.8% from the February 28th total of 5,700 shares. Based on an average daily volume of 10,700 shares, the short-interest ratio is currently 0.4 days. Currently, 0.0% of the shares of the stock are sold short.

Sangoma Technologies Price Performance

NASDAQ:SANG traded up $0.07 during trading hours on Wednesday, reaching $4.48. 8,616 shares of the company’s stock were exchanged, compared to its average volume of 8,243. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $150.50 million, a P/E ratio of -21.33 and a beta of 1.40. Sangoma Technologies has a 12 month low of $4.04 and a 12 month high of $7.99. The business’s 50-day simple moving average is $5.74 and its two-hundred day simple moving average is $6.12.

Sangoma Technologies (NASDAQ:SANG) last announced its earnings results on Wednesday, February 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Sangoma Technologies had a negative return on equity of 2.61% and a negative net margin of 2.81%. During the same period last year, the business earned ($0.10) EPS. Sell-side analysts expect that Sangoma Technologies will post -0.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC purchased a new stake in shares of Sangoma Technologies during the fourth quarter worth $86,000. Bank of America Corp DE lifted its position in shares of Sangoma Technologies by 198.4% during the 4th quarter. Bank of America Corp DE now owns 18,200 shares of the company’s stock worth $130,000 after purchasing an additional 12,100 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Sangoma Technologies by 375.6% during the 4th quarter. JPMorgan Chase & Co. now owns 19,500 shares of the company’s stock valued at $135,000 after purchasing an additional 15,400 shares during the period. National Bank of Canada FI grew its holdings 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 during the last quarter. Finally, Bard Associates Inc. increased its position in Sangoma Technologies by 2.3% during the fourth quarter. Bard Associates Inc. now owns 90,205 shares of the company’s stock worth $644,000 after acquiring an additional 2,044 shares during the period. 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.