Short Interest in Sangoma Technologies Co. (NASDAQ:SANG) Rises By 157.7%

Sangoma Technologies Co. (NASDAQ:SANG) was the target of a large growth in short interest in 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. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 8,600 shares, the days-to-cover ratio is currently 0.8 days.

Sangoma Technologies Trading Down 1.9 %

Shares of NASDAQ:SANG traded down $0.08 during trading on Friday, reaching $4.30. 508 shares of the stock were exchanged, compared to its average volume of 8,166. The firm’s 50-day moving average price is $4.45 and its 200 day moving average price is $3.51. The firm has a market cap of $102.77 million, a price-to-earnings ratio of -4.73 and a beta of 1.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.70 and a current ratio of 1.00. Sangoma Technologies has a 12-month low of $2.18 and a 12-month high of $4.98.

Sangoma Technologies (NASDAQ:SANG) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Sangoma Technologies had a negative net margin of 11.92% and a negative return on equity of 2.77%. The firm had revenue of $62.28 million during the quarter, compared to analyst estimates of $63.60 million. On average, sell-side analysts anticipate that Sangoma Technologies will post -0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sangoma Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PenderFund Capital Management Ltd. boosted its position in Sangoma Technologies by 6.8% in the 4th quarter. PenderFund Capital Management Ltd. now owns 3,308,133 shares of the company’s stock valued at $10,586,000 after buying an additional 210,300 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Sangoma Technologies by 15.3% in the third quarter. Toronto Dominion Bank now owns 550,000 shares of the company’s stock worth $1,908,000 after acquiring an additional 73,100 shares in the last quarter. Claret Asset Management Corp lifted its stake in shares of Sangoma Technologies by 111.4% in the third quarter. Claret Asset Management Corp now owns 185,622 shares of the company’s stock worth $645,000 after acquiring an additional 97,828 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of 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 acquiring an additional 16,567 shares in the last quarter. Hedge funds and other institutional investors own 39.65% of the company’s stock.

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.