Sangoma Technologies Co. (NASDAQ:SANG) Short Interest Update

Sangoma Technologies Co. (NASDAQ:SANG) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 6,400 shares, a growth of 113.3% from the June 30th total of 3,000 shares. Based on an average daily trading volume, of 5,300 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.0% of the shares of the stock are short sold.

Sangoma Technologies Price Performance

SANG traded up $0.03 during midday trading on Friday, hitting $5.15. The stock had a trading volume of 5,933 shares, compared to its average volume of 2,450. Sangoma Technologies has a 1 year low of $2.18 and a 1 year high of $6.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.77 and a current ratio of 1.04. The business has a fifty day moving average of $5.19 and a 200 day moving average of $4.44. The company has a market cap of $123.09 million, a P/E ratio of -5.54 and a beta of 1.46.

Sangoma Technologies (NASDAQ:SANG) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $61.05 million during the quarter, compared to analysts’ expectations of $61.09 million. Sangoma Technologies had a negative net margin of 12.23% and a negative return on equity of 3.07%. As a group, equities analysts forecast that Sangoma Technologies will post -0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SANG. Unique Wealth LLC bought a new stake in shares of Sangoma Technologies in the 2nd quarter valued at about $427,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Sangoma Technologies during the first quarter valued at approximately $765,000. Finally, PenderFund Capital Management Ltd. grew its holdings in shares of Sangoma Technologies by 6.8% in the fourth quarter. PenderFund Capital Management Ltd. now owns 3,308,133 shares of the company’s stock worth $10,586,000 after purchasing an additional 210,300 shares during the last quarter. 39.65% of the stock is owned by institutional investors.

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.