Sangoma Technologies (NASDAQ:SANG) Trading Down 2.1% - Here's What Happened

Key Points

• Stock movement: Sangoma shares fell 2.1% to about $4.20 on Wednesday with thin trading (~2,460 shares), down 43% from average volume.
• Analyst outlook: Ratings are mixed—one Strong Buy, two Buy and two Sell—with a MarketBeat consensus of "Hold" and an average target price of $11.00.
• Financials: The company reported a quarterly loss (EPS -$0.06) that missed estimates, has negative margins and ROE, a market cap near $139 million and a negative PE of -26.26.

Sangoma Technologies Corporation (NASDAQ:SANG - Get Free Report)'s stock price was down 2.1% during trading on Wednesday . The company traded as low as $4.12 and last traded at $4.2020. Approximately 2,460 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 4,352 shares. The stock had previously closed at $4.29.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SANG shares. ATB Cormark Capital Markets raised Sangoma Technologies to a "moderate buy" rating in a report on Thursday, February 5th. Zacks Research lowered Sangoma Technologies from a "hold" rating to a "strong sell" rating in a report on Monday, March 2nd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Sangoma Technologies in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Sangoma Technologies currently has a consensus rating of "Hold" and an average target price of $11.00.

Sangoma Technologies Stock Performance

The business's fifty day moving average is $4.63 and its 200-day moving average is $4.95. The company has a quick ratio of 0.71, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The company has a market cap of $139.21 million, a PE ratio of -26.26 and a beta of 1.32.

Sangoma Technologies (NASDAQ:SANG - Get Free Report) last announced its earnings results on Wednesday, February 4th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.12). The business had revenue of $51.50 million for the quarter, compared to analysts' expectations of $51.17 million. Sangoma Technologies had a negative net margin of 2.53% and a negative return on equity of 1.80%. As a group, research analysts predict that Sangoma Technologies Corporation will post -0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Sangoma Technologies

A number of institutional investors have recently bought and sold shares of the stock. Legacy Advisors LLC bought a new stake in Sangoma Technologies during the third quarter valued at about $50,000. Scotia Capital Inc. purchased a new position in shares of Sangoma Technologies during the 3rd quarter valued at about $90,000. Susquehanna International Group LLP lifted its position in shares of Sangoma Technologies by 109.0% during the 3rd quarter. Susquehanna International Group LLP now owns 23,689 shares of the company's stock valued at $117,000 after buying an additional 12,352 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Sangoma Technologies by 4.7% during 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. Finally, Royal Bank of Canada grew its stake in shares of Sangoma Technologies by 51.2% during the 4th quarter. Royal Bank of Canada now owns 103,813 shares of the company's stock valued at $526,000 after acquiring an additional 35,173 shares during the period. 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.

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