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

Sangoma Technologies Co. (NASDAQ:SANG) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 6,700 shares, a growth of 157.7% from the March 31st total of 2,600 shares. Based on an average trading volume of 8,600 shares, the short-interest ratio is presently 0.8 days. Approximately 0.0% of the shares of the stock are short sold.

Sangoma Technologies Price Performance

Shares of NASDAQ SANG traded down $0.08 during mid-day trading on Friday, reaching $4.30. 508 shares of the company were exchanged, compared to its average volume of 5,509. Sangoma Technologies has a 52 week low of $2.18 and a 52 week high of $4.98. The company has a quick ratio of 0.70, a current ratio of 1.00 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $102.75 million, a PE ratio of -4.73 and a beta of 1.35. The company’s 50 day moving average price is $4.45 and its 200 day moving average price is $3.51.

Sangoma Technologies (NASDAQ:SANG) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($0.10) earnings per share (EPS) 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 company had revenue of $62.28 million for the quarter, compared to the consensus estimate of $63.60 million. Sell-side analysts forecast that Sangoma Technologies will post -0.25 earnings per share for the current fiscal year.

Institutional Trading of Sangoma Technologies

Hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI lifted its stake in Sangoma Technologies by 47.7% in the third quarter. National Bank of Canada FI now owns 51,290 shares of the company’s stock worth $168,000 after purchasing an additional 16,567 shares during the last quarter. Claret Asset Management Corp boosted its holdings in shares of Sangoma Technologies by 111.4% during the third quarter. Claret Asset Management Corp now owns 185,622 shares of the company’s stock worth $645,000 after purchasing an additional 97,828 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Sangoma Technologies by 15.3% during the third quarter. Toronto Dominion Bank now owns 550,000 shares of the company’s stock worth $1,908,000 after purchasing an additional 73,100 shares during the period. Finally, PenderFund Capital Management Ltd. boosted its holdings in shares of Sangoma Technologies by 6.8% during 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. 39.65% of the stock is owned by institutional investors.

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.