Sangoma Technologies Co. (NASDAQ:SANG) Short Interest Up 29.8% in November

Sangoma Technologies Co. (NASDAQ:SANG) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 13,500 shares, an increase of 29.8% from the November 15th total of 10,400 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 10,100 shares, the short-interest ratio is presently 1.3 days.

Sangoma Technologies Stock Up 1.2 %

Shares of NASDAQ SANG traded up $0.08 during mid-day trading on Friday, hitting $6.59. The company had a trading volume of 5,630 shares, compared to its average volume of 7,282. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21. The firm has a 50-day simple moving average of $6.11 and a two-hundred day simple moving average of $5.58. The company has a market capitalization of $219.71 million, a PE ratio of -26.36 and a beta of 1.44. Sangoma Technologies has a one year low of $2.50 and a one year high of $6.75.

Sangoma Technologies (NASDAQ:SANG) last posted its quarterly earnings results on Wednesday, September 18th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Sangoma Technologies had a negative return on equity of 3.12% and a negative net margin of 3.32%. The company had revenue of $60.93 million for the quarter, compared to analyst estimates of $60.89 million. During the same period last year, the firm earned ($0.04) EPS. On average, equities analysts expect that Sangoma Technologies will post -0.06 EPS for the current year.

Institutional Trading of Sangoma Technologies

A number of large investors have recently added to or reduced their stakes in SANG. Intact Investment Management Inc. bought a new stake in shares of Sangoma Technologies in the 3rd quarter valued at about $1,587,000. Unique Wealth LLC bought a new stake in Sangoma Technologies in the second quarter valued at approximately $427,000. Acadian Asset Management LLC acquired a new stake in shares of Sangoma Technologies in the second quarter valued at approximately $188,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Sangoma Technologies by 28.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,833 shares of the company’s stock worth $808,000 after acquiring an additional 32,000 shares during the period. Finally, National Bank of Canada FI increased its holdings in shares of 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 acquiring an additional 8,439 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.