Sangoma Technologies Co. (NASDAQ:SANG) Short Interest Down 54.9% in January

Sangoma Technologies Co. (NASDAQ:SANG - Get Free Report) was the recipient of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 6,400 shares, a decrease of 54.9% from the January 15th total of 14,200 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 10,300 shares, the short-interest ratio is presently 0.6 days.

Sangoma Technologies Stock Performance

NASDAQ SANG traded up $0.12 during mid-day trading on Monday, reaching $6.41. 2,013 shares of the stock were exchanged, compared to its average volume of 13,841. The business's 50 day moving average is $6.97 and its 200-day moving average is $6.16. Sangoma Technologies has a 1 year low of $3.74 and a 1 year high of $7.99. The company has a market capitalization of $213.71 million, a P/E ratio of -30.52 and a beta of 1.35. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.68 and a current ratio of 0.86.

Sangoma Technologies (NASDAQ:SANG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). Sangoma Technologies had a negative return on equity of 2.61% and a negative net margin of 2.81%. During the same quarter in the previous year, the company earned ($0.10) EPS. On average, equities research analysts forecast that Sangoma Technologies will post -0.06 EPS for the current fiscal year.

Institutional Trading of Sangoma Technologies

Hedge funds have recently added to or reduced their stakes in the company. Citadel Advisors LLC purchased a new stake in Sangoma Technologies during the fourth quarter worth $86,000. Bank of America Corp DE raised its position in Sangoma Technologies by 198.4% during 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 period. JPMorgan Chase & Co. raised its position in Sangoma Technologies by 375.6% during 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 period. National Bank of Canada FI raised its position in Sangoma Technologies by 13.2% during the third quarter. National Bank of Canada FI now owns 72,259 shares of the company's stock worth $398,000 after acquiring an additional 8,439 shares during the period. Finally, Bard Associates Inc. raised its position in Sangoma Technologies by 8.8% during the third quarter. Bard Associates Inc. now owns 88,161 shares of the company's stock worth $474,000 after acquiring an additional 7,141 shares during the period. 39.65% of the stock is owned by hedge funds and other institutional investors.

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.