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

Sangoma Technologies Co. (NASDAQ:SANG) was the recipient of a large increase in short interest during 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 short-interest ratio is currently 1.5 days.

Sangoma Technologies Price Performance

Shares of Sangoma Technologies stock opened at $7.05 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. Sangoma Technologies has a twelve month low of $2.78 and a twelve month high of $7.99. The firm’s 50-day moving average price is $6.86 and its 200 day moving average price is $6.03.

Sangoma Technologies (NASDAQ:SANG) last released its earnings results on Wednesday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $60.15 million during the quarter, compared to analysts’ expectations of $61.45 million. During the same quarter last year, the business earned ($0.07) EPS. On average, research analysts expect that Sangoma Technologies will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sangoma Technologies

Large investors have recently modified their holdings of the business. Intact Investment Management Inc. purchased a new position in shares of Sangoma Technologies in the third quarter worth about $1,587,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Sangoma Technologies by 28.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,833 shares of the company’s stock worth $808,000 after purchasing an additional 32,000 shares in the last quarter. Bard Associates Inc. boosted its holdings in shares of Sangoma Technologies by 8.8% during the 3rd quarter. Bard Associates Inc. now owns 88,161 shares of the company’s stock worth $474,000 after purchasing an additional 7,141 shares during the last quarter. Finally, National Bank of Canada FI grew its position in shares of Sangoma Technologies by 13.2% in the third quarter. National Bank of Canada FI now owns 72,259 shares of the company’s stock valued at $398,000 after purchasing an additional 8,439 shares in the last quarter. Hedge funds and other institutional investors own 39.65% of the company’s stock.

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.