Short Interest in Sangoma Technologies Co. (NASDAQ:SANG) Declines By 15.6%

Sangoma Technologies Co. (NASDAQ:SANG) saw a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 5,400 shares, a decline of 15.6% from the January 31st total of 6,400 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 10,100 shares, the days-to-cover ratio is presently 0.5 days.

Sangoma Technologies Price Performance

Shares of NASDAQ SANG traded down $0.18 during midday trading on Thursday, hitting $5.14. 104 shares of the company’s stock were exchanged, compared to its average volume of 11,826. The business’s fifty day moving average price is $6.73 and its two-hundred day moving average price is $6.21. Sangoma Technologies has a 12-month low of $3.90 and a 12-month high of $7.99. The company has a current ratio of 0.86, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. The company has a market cap of $171.20 million, a price-to-earnings ratio of -24.45 and a beta of 1.35.

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

Institutional Investors Weigh In On Sangoma Technologies

Several institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC bought a new stake in Sangoma Technologies in the fourth quarter valued at approximately $86,000. Bank of America Corp DE raised its position in Sangoma Technologies by 198.4% during the 4th quarter. Bank of America Corp DE now owns 18,200 shares of the company’s stock valued at $130,000 after purchasing an additional 12,100 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Sangoma Technologies by 375.6% in the 4th quarter. JPMorgan Chase & Co. now owns 19,500 shares of the company’s stock worth $135,000 after buying an additional 15,400 shares during the period. National Bank of Canada FI grew its position in shares of Sangoma Technologies by 13.2% in the 3rd quarter. National Bank of Canada FI now owns 72,259 shares of the company’s stock worth $398,000 after buying an additional 8,439 shares during the last quarter. Finally, Bard Associates Inc. grew its position in shares of Sangoma Technologies by 8.8% in the 3rd quarter. Bard Associates Inc. now owns 88,161 shares of the company’s stock worth $474,000 after buying an additional 7,141 shares during the last quarter. 39.65% of the stock is currently owned by hedge funds and other 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.