Sangoma Technologies (NASDAQ:SANG) Stock Price Down 1.6% – What’s Next?

Sangoma Technologies Corporation (NASDAQ:SANG) shares were down 1.6% on Friday . The stock traded as low as $4.95 and last traded at $4.95. Approximately 116 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 3,374 shares. The stock had previously closed at $5.03.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sangoma Technologies in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Sangoma Technologies Trading Down 1.6%

The company has a market capitalization of $163.99 million, a price-to-earnings ratio of -30.94 and a beta of 1.33. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.87 and a quick ratio of 0.72. The business’s 50-day moving average price is $5.13 and its two-hundred day moving average price is $5.47.

Hedge Funds Weigh In On Sangoma Technologies

Several hedge funds have recently bought and sold shares of the company. Ewing Morris & Co. Investment Partners Ltd. lifted its holdings in shares of Sangoma Technologies by 3.1% during the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 472,554 shares of the company’s stock worth $2,923,000 after acquiring an additional 14,397 shares during the period. Acadian Asset Management LLC lifted its stake in Sangoma Technologies by 51.7% during the first quarter. Acadian Asset Management LLC now owns 181,800 shares of the company’s stock worth $809,000 after purchasing an additional 61,951 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Sangoma Technologies by 4.7% in the 3rd quarter. National Bank of Canada FI now owns 100,687 shares of the company’s stock valued at $493,000 after purchasing an additional 4,499 shares in the last quarter. Susquehanna International Group LLP increased its stake in shares of Sangoma Technologies by 109.0% in the 3rd quarter. Susquehanna International Group LLP now owns 23,689 shares of the company’s stock valued at $117,000 after purchasing an additional 12,352 shares during the last quarter. Finally, Scotia Capital Inc. acquired a new position in shares of Sangoma Technologies during the 3rd quarter worth $90,000. 39.65% of the stock is owned by institutional investors.

About Sangoma Technologies

Sangoma Technologies Corporation (NASDAQ:SANG) is a global provider of enterprise communications solutions that enable organizations to deploy voice, video, and data services across on-premises and cloud environments. The company’s offerings include unified communications platforms, SIP-based telephony hardware, VoIP gateways, session border controllers, and related endpoints. Sangoma serves small and medium-sized businesses as well as larger enterprises, delivering solutions for IP telephony, collaboration, contact centers, and SIP trunking.

The company’s product portfolio comprises software-based PBX systems such as PBXact and FreePBX, along with hardware appliances for secure and scalable connectivity.