Sangoma Technologies Co. (NASDAQ:SANG) Short Interest Down 15.8% in March

Sangoma Technologies Co. (NASDAQ:SANG) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 4,800 shares, a decline of 15.8% from the February 28th total of 5,700 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 10,700 shares, the days-to-cover ratio is presently 0.4 days.

Sangoma Technologies Trading Down 3.6 %

SANG traded down $0.16 during trading on Thursday, reaching $4.32. The company had a trading volume of 1,652 shares, compared to its average volume of 8,235. 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 business has a 50 day simple moving average of $5.68 and a 200-day simple moving average of $6.11. The stock has a market cap of $145.13 million, a P/E ratio of -20.57 and a beta of 1.40. Sangoma Technologies has a 52 week low of $4.04 and a 52 week high of $7.99.

Sangoma Technologies (NASDAQ:SANG) last announced its earnings results on Wednesday, February 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate 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 quarter in the previous year, the company posted ($0.10) earnings per share. On average, equities analysts anticipate that Sangoma Technologies will post -0.18 EPS for the current fiscal year.

Institutional Trading of Sangoma Technologies

Several institutional investors have recently added to or reduced their stakes in the company. National Bank of Canada FI raised its holdings 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 worth $398,000 after buying an additional 8,439 shares during the period. Alberta Investment Management Corp increased its stake in 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 during the period. Bard Associates Inc. increased its stake in Sangoma Technologies by 2.3% in the fourth quarter. Bard Associates Inc. now owns 90,205 shares of the company’s stock worth $644,000 after purchasing an additional 2,044 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Sangoma Technologies by 47.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 215,533 shares of the company’s stock worth $1,497,000 after purchasing an additional 69,700 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Sangoma Technologies by 375.6% during the fourth 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. 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.