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

Sangoma Technologies Co. (NASDAQ:SANG) saw a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 6,400 shares, a drop of 54.9% from the January 15th total of 14,200 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 10,300 shares, the days-to-cover ratio is currently 0.6 days.

Sangoma Technologies Price Performance

NASDAQ SANG traded down $0.04 on Thursday, reaching $6.29. The company’s stock had a trading volume of 8,144 shares, compared to its average volume of 11,784. Sangoma Technologies has a twelve month low of $3.64 and a twelve month high of $7.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.68 and a current ratio of 0.86. The firm’s 50 day moving average is $6.96 and its two-hundred day moving average is $6.13. The stock has a market cap of $209.71 million, a PE ratio of -29.95 and a beta of 1.35.

Sangoma Technologies (NASDAQ:SANG) last issued 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 firm earned ($0.10) earnings per share. As a group, sell-side analysts predict that Sangoma Technologies will post -0.06 EPS for the current year.

Institutional Trading of Sangoma Technologies

Large investors have recently added to or reduced their stakes in the company. Bard Associates Inc. grew its holdings in shares of Sangoma Technologies by 2.3% during the fourth quarter. Bard Associates Inc. now owns 90,205 shares of the company’s stock valued at $644,000 after buying an additional 2,044 shares in the last quarter. National Bank of Canada FI boosted its position in Sangoma Technologies by 3.6% during the 4th quarter. National Bank of Canada FI now owns 74,855 shares of the company’s stock worth $521,000 after acquiring an additional 2,596 shares during the period. JPMorgan Chase & Co. grew 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 acquiring an additional 15,400 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of 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 valued at $808,000 after purchasing an additional 32,000 shares during the period. Finally, Alberta Investment Management Corp lifted its position in shares of Sangoma Technologies by 11.9% in the fourth quarter. Alberta Investment Management Corp now owns 1,204,274 shares of the company’s stock worth $8,373,000 after purchasing an additional 127,808 shares in the last quarter. 39.65% of the stock is 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.