Short Interest in Sangoma Technologies Co. (NASDAQ:SANG) Declines By 31.0%

Sangoma Technologies Co. (NASDAQ:SANG) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 4,900 shares, a drop of 31.0% from the August 15th total of 7,100 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,100 shares, the days-to-cover ratio is presently 1.6 days.

Sangoma Technologies Price Performance

Shares of NASDAQ:SANG traded up $0.69 during midday trading on Monday, reaching $5.89. The company’s stock had a trading volume of 22,931 shares, compared to its average volume of 6,497. Sangoma Technologies has a fifty-two week low of $2.18 and a fifty-two week high of $6.40. The company has a market capitalization of $140.75 million, a P/E ratio of -6.35 and a beta of 1.47. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.04 and a quick ratio of 0.77. The business’s fifty day simple moving average is $5.14 and its 200-day simple moving average is $4.93.

Institutional Trading of Sangoma Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. PenderFund Capital Management Ltd. increased its stake in shares of Sangoma Technologies by 6.8% in the fourth quarter. PenderFund Capital Management Ltd. now owns 3,308,133 shares of the company’s stock valued at $10,586,000 after buying an additional 210,300 shares in the last quarter. Toronto Dominion Bank increased its position in Sangoma Technologies by 1.3% in the second quarter. Toronto Dominion Bank now owns 500,353 shares of the company’s stock worth $2,471,000 after purchasing an additional 6,243 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in Sangoma Technologies in the first quarter worth about $765,000. Unique Wealth LLC acquired a new stake in Sangoma Technologies in the second quarter worth about $427,000. Finally, Acadian Asset Management LLC acquired a new stake in Sangoma Technologies in the second quarter worth about $188,000. 39.65% of the stock is currently owned by institutional investors and hedge funds.

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.