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

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

Analysts Set New Price Targets

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

Sangoma Technologies Stock Performance

The stock has a fifty day moving average price of C$9.92 and a 200 day moving average price of C$7.50. The company has a current ratio of 0.95, a quick ratio of 0.69 and a debt-to-equity ratio of 34.31. The firm has a market cap of C$303.87 million, a price-to-earnings ratio of -25.17 and a beta of 1.63.

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.