TD Securities Lowers Sangoma Technologies (NASDAQ:SANG) Price Target to $11.00

Sangoma Technologies (NASDAQ:SANG) had its price target trimmed by TD Securities from $14.00 to $11.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Sangoma Technologies Stock Performance

Shares of NASDAQ SANG opened at $5.73 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 0.86. The stock has a 50 day moving average price of $4.85 and a 200 day moving average price of $5.96. Sangoma Technologies has a 52 week low of $4.04 and a 52 week high of $7.99. The stock has a market capitalization of $192.72 million, a PE ratio of -27.29 and a beta of 1.45.

Sangoma Technologies (NASDAQ:SANG) last released its quarterly earnings data on Wednesday, February 5th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Sangoma Technologies had a negative return on equity of 2.61% and a negative net margin of 2.81%. During the same quarter in the prior year, the firm earned ($0.10) EPS. Analysts predict that Sangoma Technologies will post -0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sangoma Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Intact Investment Management Inc. increased its position in Sangoma Technologies by 99.4% during the 1st quarter. Intact Investment Management Inc. now owns 551,525 shares of the company’s stock worth $2,488,000 after purchasing an additional 274,925 shares in the last quarter. Ewing Morris & Co. Investment Partners Ltd. bought a new stake in shares of Sangoma Technologies during the fourth quarter worth about $3,420,000. Citadel Advisors LLC acquired a new position in shares of Sangoma Technologies in the fourth quarter valued at approximately $86,000. Bank of America Corp DE raised its holdings in Sangoma Technologies by 198.4% in the 4th quarter. Bank of America Corp DE now owns 18,200 shares of the company’s stock valued at $130,000 after buying an additional 12,100 shares during the last quarter. Finally, TD Waterhouse Canada Inc. boosted its position in Sangoma Technologies by 1.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 472,027 shares of the company’s stock worth $3,232,000 after buying an additional 5,558 shares during the period. 39.65% of the stock is currently owned by institutional investors and hedge funds.

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.