Sangoma Technologies Co. (NASDAQ:SANG) Short Interest Update

Sangoma Technologies Co. (NASDAQ:SANG) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 10,400 shares, an increase of 76.3% from the October 31st total of 5,900 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 9,100 shares, the days-to-cover ratio is presently 1.1 days.

Hedge Funds Weigh In On Sangoma Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Toronto Dominion Bank increased its stake in shares of Sangoma Technologies by 1.3% in the second quarter. Toronto Dominion Bank now owns 500,353 shares of the company’s stock valued at $2,471,000 after buying an additional 6,243 shares in the last quarter. Intact Investment Management Inc. bought a new stake in Sangoma Technologies during the 3rd quarter worth about $1,587,000. Connor Clark & Lunn Investment Management Ltd. increased its position 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 valued at $808,000 after acquiring an additional 32,000 shares in the last quarter. Bard Associates Inc. raised its stake in shares of Sangoma Technologies by 8.8% in the third quarter. Bard Associates Inc. now owns 88,161 shares of the company’s stock worth $474,000 after acquiring an additional 7,141 shares during the last quarter. Finally, Unique Wealth LLC acquired a new position in shares of Sangoma Technologies during the second quarter worth approximately $427,000. Institutional investors and hedge funds own 39.65% of the company’s stock.

Sangoma Technologies Price Performance

Shares of Sangoma Technologies stock traded up $0.04 during mid-day trading on Thursday, reaching $6.17. 1,769 shares of the stock were exchanged, compared to its average volume of 7,319. Sangoma Technologies has a fifty-two week low of $2.50 and a fifty-two week high of $6.75. The company has a market cap of $205.71 million, a price-to-earnings ratio of -24.68 and a beta of 1.45. The firm has a 50-day simple moving average of $5.95 and a 200 day simple moving average of $5.45. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21.

Sangoma Technologies (NASDAQ:SANG) last posted its earnings results on Wednesday, September 18th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The firm had revenue of $60.93 million during the quarter, compared to the consensus estimate of $60.89 million. Sangoma Technologies had a negative net margin of 3.32% and a negative return on equity of 3.12%. During the same quarter last year, the firm posted ($0.04) EPS. On average, sell-side analysts predict that Sangoma Technologies will post -0.06 EPS for the current fiscal year.

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.