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

Sangoma Technologies Co. (NASDAQ:SANG - Get Free Report) saw a large drop in short interest during the month of 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. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 6,900 shares, the days-to-cover ratio is currently 1.0 days.

Wall Street Analysts Forecast Growth

SANG has been the topic of several recent research reports. TD Securities dropped their price objective on shares of Sangoma Technologies from $14.00 to $11.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Stifel Canada upgraded Sangoma Technologies to a "strong-buy" rating in a research report on Monday, May 12th.

Institutional Trading of Sangoma Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in SANG. Citadel Advisors LLC acquired a new position in shares of Sangoma Technologies during the 4th quarter valued at $86,000. Bank of America Corp DE lifted its position in shares of Sangoma Technologies by 198.4% in the fourth quarter. Bank of America Corp DE now owns 18,200 shares of the company's stock worth $130,000 after buying an additional 12,100 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Sangoma Technologies by 375.6% in the 4th quarter. JPMorgan Chase & Co. now owns 19,500 shares of the company's stock valued at $135,000 after buying an additional 15,400 shares during the last quarter. National Bank of Canada FI increased its position in Sangoma Technologies by 3.6% in the 4th quarter. National Bank of Canada FI now owns 74,855 shares of the company's stock worth $521,000 after buying an additional 2,596 shares during the period. Finally, Bard Associates Inc. raised its holdings in shares of Sangoma Technologies by 2.3% in the 4th quarter. Bard Associates Inc. now owns 90,205 shares of the company's stock worth $644,000 after buying an additional 2,044 shares in the last quarter. 39.65% of the stock is currently owned by institutional investors and hedge funds.

Sangoma Technologies Price Performance

Shares of SANG traded up $0.12 during trading hours on Tuesday, reaching $5.57. 12,874 shares of the company traded hands, compared to its average volume of 7,912. The stock has a fifty day simple moving average of $5.20 and a 200 day simple moving average of $5.91. Sangoma Technologies has a fifty-two week low of $4.08 and a fifty-two week high of $7.99. The stock has a market capitalization of $186.63 million, a PE ratio of -26.52 and a beta of 1.41. 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 (NASDAQ:SANG - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $58.07 million during the quarter, compared to analyst estimates of $58.92 million. Sangoma Technologies had a negative return on equity of 2.61% and a negative net margin of 2.81%. As a group, research analysts predict that Sangoma Technologies will post -0.18 EPS for the current fiscal year.

Sangoma Technologies Company Profile

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.