Sangoma Technologies (TSE:STC) Trading Down 13% – Here’s Why

Sangoma Technologies Co. (TSE:STC)’s stock price was down 13% on Thursday . The company traded as low as C$8.41 and last traded at C$9.00. Approximately 118,403 shares changed hands during mid-day trading, an increase of 193% from the average daily volume of 40,412 shares. The stock had previously closed at C$10.35.

Analyst Ratings Changes

Separately, TD Securities increased their price objective on Sangoma Technologies from C$10.00 to C$12.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Sangoma Technologies Stock Performance

The company has a quick ratio of 0.69, a current ratio of 0.95 and a debt-to-equity ratio of 34.31. The stock has a market capitalization of C$304.54 million, a price-to-earnings ratio of -25.22 and a beta of 1.63. The stock’s 50-day simple moving average is C$9.91 and its 200 day simple moving average is C$7.49.

About Sangoma Technologies

Sangoma Technologies Corporation, together with its subsidiaries, develops, manufactures, distributes, and supports voice and data connectivity components for software-based communication applications in the United States of America and internationally. The company offers communications platforms comprising pure cloud and hybrid unified communications as a service, and on-premises systems; retail and wholesale SIP trunking, as well as fax as a service; Sangoma TeamHub, a unified communications and collaboration platform for business productivity; Sangoma Meet, a multi-party video conferencing platform; and Sangoma CX, a cloud-native contact center suite that enables businesses to manage inbound interactions across multiple channels.