Sangoma Technologies Co. (NASDAQ:SANG – Get Free Report) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 12,200 shares, a growth of 37.1% from the December 31st total of 8,900 shares. Based on an average daily volume of 7,900 shares, the short-interest ratio is currently 1.5 days. Approximately 0.1% of the company’s stock are short sold.
Institutional Investors Weigh In On Sangoma Technologies
A number of hedge funds have recently modified their holdings of SANG. National Bank of Canada FI raised its holdings in Sangoma Technologies by 13.2% during the 3rd quarter. National Bank of Canada FI now owns 72,259 shares of the company’s stock valued at $398,000 after acquiring an additional 8,439 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Sangoma Technologies by 28.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,833 shares of the company’s stock valued at $808,000 after acquiring an additional 32,000 shares during the period. Bard Associates Inc. raised its holdings in Sangoma Technologies by 8.8% during the 3rd quarter. Bard Associates Inc. now owns 88,161 shares of the company’s stock valued at $474,000 after acquiring an additional 7,141 shares during the period. Finally, Intact Investment Management Inc. bought a new position in shares of Sangoma Technologies in the third quarter worth $1,587,000. Institutional investors own 39.65% of the company’s stock.
Sangoma Technologies Stock Down 4.1 %
SANG stock traded down $0.31 during mid-day trading on Friday, reaching $7.05. 7,751 shares of the company traded hands, compared to its average volume of 11,264. The stock has a market cap of $234.88 million, a price-to-earnings ratio of -28.18 and a beta of 1.36. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. Sangoma Technologies has a fifty-two week low of $2.78 and a fifty-two week high of $7.99. The firm’s 50 day moving average price is $6.86 and its 200 day moving average price is $6.03.
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.
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