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

Sangoma Technologies Co. (NASDAQ:SANG) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 5,000 shares, a growth of 150.0% from the February 29th total of 2,000 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 7,900 shares, the short-interest ratio is currently 0.6 days.

Hedge Funds Weigh In On Sangoma Technologies

Institutional investors have recently bought and sold shares of the business. PenderFund Capital Management Ltd. boosted its stake in Sangoma Technologies by 6.8% in the fourth quarter. PenderFund Capital Management Ltd. now owns 3,308,133 shares of the company’s stock valued at $10,586,000 after acquiring an additional 210,300 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Sangoma Technologies by 6.4% during the third quarter. Royal Bank of Canada now owns 154,814 shares of the company’s stock worth $537,000 after buying an additional 9,284 shares during the period. Toronto Dominion Bank lifted its position in Sangoma Technologies by 15.3% during the third quarter. Toronto Dominion Bank now owns 550,000 shares of the company’s stock valued at $1,908,000 after purchasing an additional 73,100 shares during the period. Claret Asset Management Corp lifted its position in Sangoma Technologies by 111.4% during the third quarter. Claret Asset Management Corp now owns 185,622 shares of the company’s stock valued at $645,000 after purchasing an additional 97,828 shares during the period. Finally, National Bank of Canada FI lifted its position in Sangoma Technologies by 47.7% during the third quarter. National Bank of Canada FI now owns 51,290 shares of the company’s stock valued at $168,000 after purchasing an additional 16,567 shares during the period. 39.65% of the stock is owned by hedge funds and other institutional investors.

Sangoma Technologies Stock Performance

Shares of NASDAQ:SANG traded up $0.03 during midday trading on Thursday, hitting $4.84. The company had a trading volume of 13,225 shares, compared to its average volume of 8,550. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.00 and a quick ratio of 0.70. Sangoma Technologies has a 12-month low of $2.18 and a 12-month high of $4.97. The company has a fifty day moving average of $3.76 and a two-hundred day moving average of $3.36. The company has a market cap of $115.68 million, a price-to-earnings ratio of -5.29 and a beta of 1.27.

Sangoma Technologies (NASDAQ:SANG) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Sangoma Technologies had a negative return on equity of 2.77% and a negative net margin of 11.92%. The firm had revenue of $62.28 million during the quarter, compared to analysts’ expectations of $63.60 million. On average, equities research analysts expect that Sangoma Technologies will post -0.25 EPS for the current fiscal year.

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.