Short Interest in Sangoma Technologies Co. (NASDAQ:SANG) Increases By 113.3%

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

Sangoma Technologies Stock Up 0.6 %

SANG stock traded up $0.03 during trading on Friday, hitting $5.15. 5,933 shares of the company’s stock were exchanged, compared to its average volume of 2,450. The business has a 50-day moving average price of $5.19 and a two-hundred day moving average price of $4.44. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $123.09 million, a price-to-earnings ratio of -5.54 and a beta of 1.46. Sangoma Technologies has a 52-week low of $2.18 and a 52-week high of $6.40.

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

Institutional Investors Weigh In On Sangoma Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Unique Wealth LLC acquired a new stake in shares of Sangoma Technologies during the second quarter worth about $427,000. Hillsdale Investment Management Inc. purchased a new position in Sangoma Technologies during the 1st quarter worth approximately $765,000. Finally, PenderFund Capital Management Ltd. increased its position in Sangoma Technologies by 6.8% during the fourth quarter. PenderFund Capital Management Ltd. now owns 3,308,133 shares of the company’s stock worth $10,586,000 after buying an additional 210,300 shares during the period. 39.65% of the stock is owned by hedge funds and other 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.