Sangoma Technologies Corporation (NASDAQ:SANG) Sees Large Growth in Short Interest

Sangoma Technologies Corporation (NASDAQ:SANG) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totaling 113,033 shares, a growth of 348.0% from the December 15th total of 25,228 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily volume of 5,333 shares, the short-interest ratio is currently 21.2 days. Based on an average daily volume of 5,333 shares, the short-interest ratio is currently 21.2 days. Currently, 0.3% of the shares of the stock are short sold.

Institutional Trading of Sangoma Technologies

Several hedge funds have recently made changes to their positions in SANG. National Bank of Canada FI boosted its stake in Sangoma Technologies by 4.7% during the 3rd quarter. National Bank of Canada FI now owns 100,687 shares of the company’s stock worth $493,000 after purchasing an additional 4,499 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Sangoma Technologies by 1.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 291,533 shares of the company’s stock valued at $1,808,000 after buying an additional 4,700 shares during the last quarter. Legacy Advisors LLC acquired a new stake in shares of Sangoma Technologies during the third quarter worth about $50,000. Susquehanna International Group LLP boosted its stake in shares of Sangoma Technologies by 109.0% during the third quarter. Susquehanna International Group LLP now owns 23,689 shares of the company’s stock worth $117,000 after buying an additional 12,352 shares during the period. Finally, Claret Asset Management Corp grew its holdings in shares of Sangoma Technologies by 8.5% during the third quarter. Claret Asset Management Corp now owns 166,975 shares of the company’s stock worth $829,000 after buying an additional 13,040 shares during the last quarter. Institutional investors and hedge funds own 39.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Sangoma Technologies in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Sangoma Technologies Price Performance

SANG stock opened at $4.76 on Tuesday. The business’s fifty day moving average price is $5.11 and its 200 day moving average price is $5.40. Sangoma Technologies has a 12-month low of $4.08 and a 12-month high of $7.99. The company has a current ratio of 0.87, a quick ratio of 0.72 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $157.70 million, a PE ratio of -29.75 and a beta of 1.33.

Sangoma Technologies Company Profile

Sangoma Technologies Corporation (NASDAQ:SANG) is a global provider of enterprise communications solutions that enable organizations to deploy voice, video, and data services across on-premises and cloud environments. The company’s offerings include unified communications platforms, SIP-based telephony hardware, VoIP gateways, session border controllers, and related endpoints. Sangoma serves small and medium-sized businesses as well as larger enterprises, delivering solutions for IP telephony, collaboration, contact centers, and SIP trunking.

The company’s product portfolio comprises software-based PBX systems such as PBXact and FreePBX, along with hardware appliances for secure and scalable connectivity.