Sangoma Technologies (NASDAQ:SANG) Shares Down 3.5% - Should You Sell?

Sangoma Technologies Corporation (NASDAQ:SANG - Get Free Report) shares were down 3.5% on Monday . The stock traded as low as $5.85 and last traded at $5.99. Approximately 7,459 shares traded hands during trading, a decline of 4% from the average daily volume of 7,744 shares. The stock had previously closed at $6.20.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SANG shares. TD Securities cut 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 report on Wednesday, April 30th. Stifel Canada raised shares of Sangoma Technologies to a "strong-buy" rating in a research report on Monday, May 12th.

Sangoma Technologies Stock Performance

The company has a debt-to-equity ratio of 0.16, a current ratio of 0.87 and a quick ratio of 0.69. The firm has a fifty day simple moving average of $5.85 and a 200 day simple moving average of $5.79. The company has a market cap of $196.75 million, a price-to-earnings ratio of -28.19 and a beta of 1.39.

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, meeting the consensus estimate of ($0.03). Sangoma Technologies had a negative return on equity of 2.61% and a negative net margin of 2.91%. The company had revenue of $58.07 million for the quarter, compared to the consensus estimate of $58.92 million. On average, sell-side analysts expect that Sangoma Technologies Corporation will post -0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sangoma Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake 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 acquiring an additional 12,100 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Sangoma Technologies in the fourth quarter worth $86,000. Ewing Morris & Co. Investment Partners Ltd. acquired a new stake in shares of Sangoma Technologies in the fourth quarter worth $3,420,000. JPMorgan Chase & Co. grew its stake in shares of Sangoma Technologies by 375.6% in the fourth quarter. JPMorgan Chase & Co. now owns 19,500 shares of the company's stock worth $135,000 after acquiring an additional 15,400 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Sangoma Technologies by 1,171.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 142,879 shares of the company's stock worth $993,000 after acquiring an additional 131,638 shares during the last quarter. Institutional investors and hedge funds own 39.65% of the company's stock.

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.