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

Sangoma Technologies Co. (NASDAQ:SANG) was the target of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 13,500 shares, a growth of 29.8% from the November 15th total of 10,400 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 10,100 shares, the short-interest ratio is currently 1.3 days.

Sangoma Technologies Stock Performance

Shares of Sangoma Technologies stock traded up $0.08 during trading hours on Friday, reaching $6.59. 5,630 shares of the stock traded hands, compared to its average volume of 7,282. Sangoma Technologies has a one year low of $2.50 and a one year high of $6.75. The firm has a market capitalization of $219.71 million, a price-to-earnings ratio of -26.36 and a beta of 1.44. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. The company has a 50 day moving average price of $6.11 and a 200 day moving average price of $5.58.

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

Hedge Funds Weigh In On Sangoma Technologies

A number of institutional investors have recently bought and sold shares of SANG. Acadian Asset Management LLC bought a new stake in Sangoma Technologies during the 2nd quarter worth approximately $188,000. National Bank of Canada FI increased its stake 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 purchasing an additional 8,439 shares in the last quarter. Unique Wealth LLC bought a new stake in shares of Sangoma Technologies during the 2nd quarter valued at $427,000. Bard Associates Inc. lifted its stake in shares of Sangoma Technologies by 8.8% during the 3rd quarter. Bard Associates Inc. now owns 88,161 shares of the company’s stock valued at $474,000 after buying an additional 7,141 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings 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 worth $808,000 after buying an additional 32,000 shares during the period. 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.