Sangoma Technologies Co. (NASDAQ:SANG) Short Interest Update

Sangoma Technologies Co. (NASDAQ:SANG - Get Free Report) saw a significant drop in short interest in May. As of May 15th, there was short interest totalling 7,100 shares, a drop of 33.0% from the April 30th total of 10,600 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 6,900 shares, the short-interest ratio is currently 1.0 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ewing Morris & Co. Investment Partners Ltd. bought a new stake in shares of Sangoma Technologies during the 4th quarter worth approximately $3,420,000. Intact Investment Management Inc. increased its position in Sangoma Technologies by 99.4% in the 1st quarter. Intact Investment Management Inc. now owns 551,525 shares of the company's stock valued at $2,488,000 after acquiring an additional 274,925 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Sangoma Technologies by 1,171.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 142,879 shares of the company's stock valued at $993,000 after acquiring an additional 131,638 shares during the period. Alberta Investment Management Corp increased its position in shares of Sangoma Technologies by 11.9% during the fourth quarter. Alberta Investment Management Corp now owns 1,204,274 shares of the company's stock worth $8,373,000 after buying an additional 127,808 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Sangoma Technologies by 33.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 286,833 shares of the company's stock worth $1,294,000 after buying an additional 71,300 shares during the period. Institutional investors and hedge funds own 39.65% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SANG shares. Stifel Canada raised shares of Sangoma Technologies to a "strong-buy" rating in a report on Monday, May 12th. TD Securities reduced their price target on shares of Sangoma Technologies from $14.00 to $11.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th.

Sangoma Technologies Stock Up 0.7%

SANG traded up $0.04 during trading on Thursday, hitting $5.68. The company had a trading volume of 1,767 shares, compared to its average volume of 7,840. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.18. Sangoma Technologies has a one year low of $4.08 and a one year high of $7.99. The firm's 50-day moving average price is $5.27 and its 200 day moving average price is $5.90. The company has a market capitalization of $190.31 million, a PE ratio of -27.05 and a beta of 1.41.

Sangoma Technologies (NASDAQ:SANG - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The company 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%. As a group, equities analysts expect that Sangoma Technologies will post -0.18 earnings per share for the current 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.