Short Interest in Sangoma Technologies Co. (NASDAQ:SANG) Expands By 37.1%

Sangoma Technologies Co. (NASDAQ:SANG) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totalling 12,200 shares, an increase of 37.1% from the December 15th total of 8,900 shares. Based on an average trading volume of 7,900 shares, the short-interest ratio is currently 1.5 days. Approximately 0.1% of the shares of the company are short sold.

Sangoma Technologies Stock Performance

Sangoma Technologies stock traded down $0.19 during trading hours on Thursday, hitting $7.03. The stock had a trading volume of 519 shares, compared to its average volume of 5,401. The company has a 50-day moving average of $6.61 and a two-hundred day moving average of $5.82. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. The company has a market cap of $234.38 million, a PE ratio of -28.12 and a beta of 1.36. Sangoma Technologies has a fifty-two week low of $2.50 and a fifty-two week high of $7.25.

Hedge Funds Weigh In On Sangoma Technologies

Large investors have recently added to or reduced their stakes in the company. Intact Investment Management Inc. acquired a new position in Sangoma Technologies in the 3rd quarter valued at approximately $1,587,000. National Bank of Canada FI raised its holdings in shares of Sangoma Technologies by 13.2% in 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 in the last quarter. Toronto Dominion Bank raised its holdings in shares of Sangoma Technologies by 1.3% in the 2nd quarter. Toronto Dominion Bank now owns 500,353 shares of the company’s stock worth $2,471,000 after buying an additional 6,243 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Sangoma Technologies by 28.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,833 shares of the company’s stock worth $808,000 after buying an additional 32,000 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Sangoma Technologies in the 2nd quarter worth approximately $188,000. Institutional investors and hedge funds 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.