Short Interest in Sangoma Technologies Co. (NASDAQ:SANG) Declines By 31.0%

Sangoma Technologies Co. (NASDAQ:SANG) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 4,900 shares, a drop of 31.0% from the August 15th total of 7,100 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 3,100 shares, the days-to-cover ratio is presently 1.6 days.

Sangoma Technologies Stock Performance

SANG stock traded up $0.69 during midday trading on Monday, hitting $5.89. The stock had a trading volume of 22,931 shares, compared to its average volume of 6,497. The firm has a market capitalization of $140.75 million, a price-to-earnings ratio of -6.35 and a beta of 1.47. Sangoma Technologies has a 52 week low of $2.18 and a 52 week high of $6.40. The stock has a 50-day simple moving average of $5.14 and a 200 day simple moving average of $4.93. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.30.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SANG. PenderFund Capital Management Ltd. lifted its position 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 worth $10,586,000 after purchasing an additional 210,300 shares during the period. Hillsdale Investment Management Inc. acquired a new position in Sangoma Technologies during the first quarter worth $765,000. Unique Wealth LLC acquired a new position in Sangoma Technologies during the second quarter worth $427,000. Acadian Asset Management LLC acquired a new position in Sangoma Technologies during the second quarter worth $188,000. Finally, Toronto Dominion Bank raised its stake in Sangoma Technologies by 1.3% during the second quarter. Toronto Dominion Bank now owns 500,353 shares of the company’s stock worth $2,471,000 after acquiring an additional 6,243 shares in the last quarter. 39.65% of the stock is owned by 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.