Sangoma Technologies (NASDAQ:SANG) Trading 2.5% Higher – Here’s Why

Sangoma Technologies Co. (NASDAQ:SANG) shares shot up 2.5% during trading on Friday . The stock traded as high as $5.86 and last traded at $5.76. 6,250 shares changed hands during trading, a decline of 14% from the average session volume of 7,296 shares. The stock had previously closed at $5.62.

Sangoma Technologies Stock Up 2.5 %

The company has a quick ratio of 0.70, a current ratio of 0.95 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $192.04 million, a P/E ratio of -22.15 and a beta of 1.48. The company has a fifty day moving average price of $5.58 and a 200-day moving average price of $5.17.

Sangoma Technologies (NASDAQ:SANG) last issued its quarterly earnings data on Wednesday, September 18th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The business had revenue of $60.93 million during the quarter, compared to analysts’ expectations of $60.89 million. Sangoma Technologies had a negative return on equity of 3.31% and a negative net margin of 3.50%. During the same period in the previous year, the business earned ($0.04) earnings per share. As a group, research analysts forecast that Sangoma Technologies Co. will post -0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Sangoma Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new position in shares of Sangoma Technologies during the second quarter valued at approximately $188,000. Unique Wealth LLC purchased a new stake in Sangoma Technologies in the second quarter worth $427,000. Hillsdale Investment Management Inc. bought a new stake in shares of Sangoma Technologies during the first quarter worth $765,000. Finally, Toronto Dominion Bank boosted its position in Sangoma Technologies by 1.3% in the 2nd quarter. Toronto Dominion Bank now owns 500,353 shares of the company’s stock valued at $2,471,000 after buying an additional 6,243 shares during the period. Hedge funds and other institutional investors 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.