Sangoma Technologies (TSE:STC) Stock Price Down 1% - Here's Why

Sangoma Technologies Co. (TSE:STC - Get Free Report)'s share price traded down 1% during mid-day trading on Wednesday . The stock traded as low as C$7.77 and last traded at C$7.80. 2,425 shares were traded during mid-day trading, a decline of 92% from the average session volume of 30,911 shares. The stock had previously closed at C$7.88.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. TD Securities reduced their price objective on Sangoma Technologies from C$14.00 to C$11.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Stifel Nicolaus set a C$12.00 price target on Sangoma Technologies and gave the company a "buy" rating in a report on Thursday, May 22nd.

Sangoma Technologies Trading Up 2.3%

The firm has a market capitalization of C$194.83 million, a price-to-earnings ratio of -28.42 and a beta of 1.63. The company has a current ratio of 0.86, a quick ratio of 0.69 and a debt-to-equity ratio of 27.33. The company has a fifty day moving average price of C$7.73 and a 200-day moving average price of C$8.31.

Insider Activity

In related news, insider Sangoma Technologies Corporation acquired 126,264 shares of the business's stock in a transaction that occurred on Wednesday, April 30th. The shares were acquired at an average cost of C$6.78 per share, with a total value of C$856,069.92. Insiders bought a total of 136,293 shares of company stock worth $920,911 in the last three months. 20.80% of the stock is owned by insiders.

Sangoma Technologies Company Profile

Sangoma Technologies Corp is a provider of hardware and software components that enable Internet protocol communications systems for both telecom and datacom applications. It is engaged in the development, manufacturing, distribution, and support of voice and data connectivity components for software-based communication applications.