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

Sangoma Technologies Co. (NASDAQ:SANG) was the recipient of a large drop in short interest in February. As of February 15th, there was short interest totalling 5,400 shares, a drop of 15.6% from the January 31st total of 6,400 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 10,100 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Trading of Sangoma Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of SANG. Citadel Advisors LLC acquired a new stake in Sangoma Technologies during the fourth quarter worth about $86,000. Bank of America Corp DE increased its position in shares of Sangoma Technologies by 198.4% in the 4th quarter. Bank of America Corp DE now owns 18,200 shares of the company’s stock valued at $130,000 after purchasing an additional 12,100 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Sangoma Technologies by 375.6% in the fourth quarter. JPMorgan Chase & Co. now owns 19,500 shares of the company’s stock valued at $135,000 after buying an additional 15,400 shares in the last quarter. National Bank of Canada FI lifted its holdings in Sangoma Technologies by 13.2% during the 3rd quarter. National Bank of Canada FI now owns 72,259 shares of the company’s stock worth $398,000 after buying an additional 8,439 shares during the last quarter. Finally, Bard Associates Inc. boosted its position 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 worth $474,000 after acquiring an additional 7,141 shares in the last quarter. 39.65% of the stock is owned by institutional investors and hedge funds.

Sangoma Technologies Price Performance

SANG stock traded up $0.20 during trading on Wednesday, hitting $5.15. The stock had a trading volume of 15,948 shares, compared to its average volume of 7,970. The company’s 50-day moving average price is $6.73 and its two-hundred day moving average price is $6.21. Sangoma Technologies has a twelve month low of $3.78 and a twelve month high of $7.99. The stock has a market capitalization of $171.53 million, a P/E ratio of -24.50 and a beta of 1.35. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.86 and a quick ratio of 0.63.

Sangoma Technologies (NASDAQ:SANG) last issued its quarterly earnings results on Wednesday, February 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Sangoma Technologies had a negative return on equity of 2.61% and a negative net margin of 2.81%. During the same period last year, the business earned ($0.10) earnings per share. As a group, research analysts predict that Sangoma Technologies will post -0.18 EPS for the current fiscal year.

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.