Sangoma Technologies Co. (NASDAQ:SANG) Sees Large Decline in Short Interest

Sangoma Technologies Co. (NASDAQ:SANG) was the target of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 8,900 shares, a decline of 34.1% from the November 30th total of 13,500 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 7,900 shares, the short-interest ratio is currently 1.1 days.

Institutional Investors Weigh In On Sangoma Technologies

Several hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank lifted its position in Sangoma Technologies by 1.3% during the second quarter. Toronto Dominion Bank now owns 500,353 shares of the company’s stock worth $2,471,000 after buying an additional 6,243 shares during the period. Bard Associates Inc. increased its stake in shares of Sangoma Technologies by 8.8% during the 3rd quarter. Bard Associates Inc. now owns 88,161 shares of the company’s stock valued at $474,000 after acquiring an additional 7,141 shares during the last quarter. National Bank of Canada FI increased its stake 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 valued at $398,000 after acquiring an additional 8,439 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings 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, Acadian Asset Management LLC acquired a new stake in shares of Sangoma Technologies in the second quarter worth approximately $188,000. Institutional investors and hedge funds own 39.65% of the company’s stock.

Sangoma Technologies Trading Up 0.1 %

Shares of SANG traded up $0.01 on Monday, hitting $7.01. 2,435 shares of the stock traded hands, compared to its average volume of 7,580. The firm has a market capitalization of $233.71 million, a P/E ratio of -28.04 and a beta of 1.44. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. Sangoma Technologies has a 1 year low of $2.50 and a 1 year high of $7.16. The stock’s 50 day moving average is $6.32 and its two-hundred day moving average is $5.67.

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.