Short Interest in Sangoma Technologies Co. (NASDAQ:SANG) Drops By 33.0%

Sangoma Technologies Co. (NASDAQ:SANG) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totalling 7,100 shares, a decrease of 33.0% from the April 30th total of 10,600 shares. Based on an average trading volume of 6,900 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.0% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SANG. TD Securities reduced their price target on shares of Sangoma Technologies from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Stifel Canada upgraded shares of Sangoma Technologies to a “strong-buy” rating in a research note on Monday, May 12th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SANG. Alberta Investment Management Corp increased its stake in Sangoma Technologies by 11.9% in the 4th quarter. Alberta Investment Management Corp now owns 1,204,274 shares of the company’s stock valued at $8,373,000 after buying an additional 127,808 shares during the period. Bard Associates Inc. increased its stake in shares of Sangoma Technologies by 2.3% during the 4th quarter. Bard Associates Inc. now owns 90,205 shares of the company’s stock worth $644,000 after purchasing an additional 2,044 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Sangoma Technologies by 47.8% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 215,533 shares of the company’s stock worth $1,497,000 after purchasing an additional 69,700 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Sangoma Technologies by 375.6% during the 4th quarter. JPMorgan Chase & Co. now owns 19,500 shares of the company’s stock worth $135,000 after purchasing an additional 15,400 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Sangoma Technologies by 1,171.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 142,879 shares of the company’s stock worth $993,000 after purchasing an additional 131,638 shares during the last quarter. Institutional investors and hedge funds own 39.65% of the company’s stock.

Sangoma Technologies Stock Up 0.4%

Sangoma Technologies stock opened at $5.50 on Tuesday. The firm has a market cap of $184.32 million, a PE ratio of -26.19 and a beta of 1.41. 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 firm’s 50 day moving average price is $5.20 and its two-hundred day moving average price is $5.91. Sangoma Technologies has a twelve month low of $4.08 and a twelve month high of $7.99.

Sangoma Technologies (NASDAQ:SANG) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $58.07 million for the quarter, compared to analyst estimates of $58.92 million. Sangoma Technologies had a negative net margin of 2.81% and a negative return on equity of 2.61%. On average, research analysts predict that Sangoma Technologies will post -0.18 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.