Sangoma Technologies Co. (NASDAQ:SANG) Short Interest Down 15.8% in March

Sangoma Technologies Co. (NASDAQ:SANG) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 4,800 shares, a drop of 15.8% from the February 28th total of 5,700 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 10,700 shares, the days-to-cover ratio is presently 0.4 days.

Sangoma Technologies Stock Performance

Sangoma Technologies stock opened at $4.44 on Tuesday. The firm has a market capitalization of $148.99 million, a PE ratio of -21.12 and a beta of 1.39. Sangoma Technologies has a one year low of $4.04 and a one year high of $7.99. The stock’s 50 day moving average price is $5.81 and its 200 day moving average price is $6.12. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 0.86.

Sangoma Technologies (NASDAQ:SANG) last posted its quarterly earnings data 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 net margin of 2.81% and a negative return on equity of 2.61%. During the same quarter in the previous year, the business posted ($0.10) EPS. As a group, sell-side analysts expect that Sangoma Technologies will post -0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Sangoma Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Ewing Morris & Co. Investment Partners Ltd. purchased a new stake in shares of Sangoma Technologies during the fourth quarter worth about $3,420,000. Citadel Advisors LLC acquired a new stake in Sangoma Technologies during the 4th quarter valued at approximately $86,000. Bank of America Corp DE increased its holdings in Sangoma Technologies by 198.4% during the 4th quarter. Bank of America Corp DE now owns 18,200 shares of the company’s stock worth $130,000 after purchasing an additional 12,100 shares during the last quarter. TD Waterhouse Canada Inc. raised its position in shares of Sangoma Technologies by 1.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 472,027 shares of the company’s stock valued at $3,232,000 after purchasing an additional 5,558 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Sangoma Technologies by 3.6% during the 4th quarter. National Bank of Canada FI now owns 74,855 shares of the company’s stock valued at $521,000 after buying an additional 2,596 shares during the last quarter. Institutional investors and hedge funds own 39.65% of the company’s stock.

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.