Sangoma Technologies (NASDAQ:SANG) Shares Up 0.5% - Here's Why

Key Points

• Sangoma Technologies shares rose 0.5% to $3.73 in midday trading, with volume 28% above its average.
• Analysts have a consensus “Hold” rating and an average $4.00 price target; Canaccord Genuity lowered its rating from speculative buy to hold and cut its target from $9.00.
• Institutional investors own 39.65% of the company, while Sangoma’s financial metrics include a 0.90 current ratio, 0.07 debt-to-equity ratio and $124.13 million market capitalization.

Sangoma Technologies Corporation (NASDAQ:SANG - Get Free Report) was up 0.5% during mid-day trading on Tuesday . The company traded as high as $3.87 and last traded at $3.73. 7,369 shares were traded during trading, an increase of 28% from the average daily volume of 5,768 shares. The stock had previously closed at $3.71.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Zacks Research upgraded shares of Sangoma Technologies from a "strong sell" rating to a "hold" rating in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Sangoma Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, August 17th. Finally, Canaccord Genuity Group cut Sangoma Technologies from a "speculative buy" rating to a "hold" rating and dropped their price target for the stock from $9.00 to $4.00 in a research report on Thursday, May 14th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $4.00.

Sangoma Technologies Price Performance

The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.07. The firm has a fifty day moving average price of $3.99 and a two-hundred day moving average price of $4.03. The stock has a market capitalization of $124.13 million, a P/E ratio of -19.63 and a beta of 1.27.

Institutional Trading of Sangoma Technologies

Several institutional investors have recently bought and sold shares of SANG. Acadian Asset Management LLC raised its holdings in Sangoma Technologies by 51.7% in the first quarter. Acadian Asset Management LLC now owns 181,800 shares of the company's stock worth $809,000 after buying an additional 61,951 shares during the last quarter. Ewing Morris & Co. Investment Partners Ltd. grew its holdings in shares of Sangoma Technologies by 3.1% during the second quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 472,554 shares of the company's stock valued at $2,923,000 after buying an additional 14,397 shares during the last quarter. Legacy Advisors LLC purchased a new stake in shares of Sangoma Technologies during the third quarter valued at approximately $50,000. Scotia Capital Inc. purchased a new stake in shares of Sangoma Technologies during the third quarter valued at approximately $90,000. Finally, National Bank of Canada FI increased its position in shares of Sangoma Technologies by 4.7% during the third 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 in the last quarter. 39.65% of the stock is owned by hedge funds and other institutional investors.

Sangoma Technologies Company Profile

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.

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