Sangoma Technologies (NASDAQ:SANG) Trading Up 0.7% – Time to Buy?

Shares of Sangoma Technologies Corporation (NASDAQ:SANG) traded up 0.7% on Monday . The stock traded as high as $4.13 and last traded at $4.13. 30,106 shares were traded during trading, an increase of 671% from the average session volume of 3,906 shares. The stock had previously closed at $4.10.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SANG shares. Weiss Ratings raised shares of Sangoma Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 15th. Zacks Research downgraded shares of Sangoma Technologies from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd. Finally, Canaccord Genuity Group lowered shares of Sangoma Technologies from a “speculative buy” rating to a “hold” rating and decreased their price target for the company from $9.00 to $4.00 in a report on Thursday, May 14th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Sangoma Technologies has a consensus rating of “Reduce” and a consensus price target of $4.00.

Sangoma Technologies Stock Performance

The stock has a market cap of $137.44 million, a PE ratio of -21.74 and a beta of 1.28. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.90 and a quick ratio of 0.74. The stock has a 50-day simple moving average of $3.78 and a 200-day simple moving average of $4.24.

Sangoma Technologies (NASDAQ:SANG) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The firm had revenue of $51.00 million during the quarter, compared to analysts’ expectations of $52.08 million. Sangoma Technologies had a negative return on equity of 2.26% and a negative net margin of 3.04%. Equities analysts predict that Sangoma Technologies Corporation will post -0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SANG. Acadian Asset Management LLC lifted its position in Sangoma Technologies by 51.7% during the first quarter. Acadian Asset Management LLC now owns 181,800 shares of the company’s stock valued at $809,000 after buying an additional 61,951 shares in the last quarter. Ewing Morris & Co. Investment Partners Ltd. increased its position in shares of Sangoma Technologies by 3.1% in the second 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 in the last quarter. Legacy Advisors LLC acquired a new stake in shares of Sangoma Technologies in the third quarter worth $50,000. Scotia Capital Inc. purchased a new position in shares of Sangoma Technologies in the 3rd quarter valued at $90,000. Finally, National Bank of Canada FI raised its stake 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 acquiring an additional 4,499 shares during the period. Hedge funds and other institutional investors own 39.65% of the company’s stock.

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.