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

Sangoma Technologies Co. (NASDAQ:SANG) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 3,500 shares, a growth of 218.2% from the May 31st total of 1,100 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 6,500 shares, the short-interest ratio is presently 0.5 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SANG. Hillsdale Investment Management Inc. purchased a new position in Sangoma Technologies in the first quarter worth about $765,000. Toronto Dominion Bank grew its stake in shares of Sangoma Technologies by 15.3% in the third quarter. Toronto Dominion Bank now owns 550,000 shares of the company’s stock worth $1,908,000 after acquiring an additional 73,100 shares during the period. Finally, PenderFund Capital Management Ltd. grew its stake 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 acquiring an additional 210,300 shares during the period. 39.65% of the stock is owned by hedge funds and other institutional investors.

Sangoma Technologies Price Performance

Sangoma Technologies stock remained flat at $5.01 during trading hours on Friday. 147 shares of the company’s stock traded hands, compared to its average volume of 7,999. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.04 and a quick ratio of 0.77. The company has a market cap of $119.74 million, a PE ratio of -5.39 and a beta of 1.51. Sangoma Technologies has a twelve month low of $2.18 and a twelve month high of $6.40. The stock has a 50-day simple moving average of $4.99 and a 200-day simple moving average of $4.18.

Sangoma Technologies (NASDAQ:SANG) last issued its earnings results on Wednesday, May 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The business 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%. On average, research analysts expect that Sangoma Technologies will post -0.23 EPS for the current fiscal year.

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.