Sangoma Technologies Co. (NASDAQ:SANG) Short Interest Up 37.1% in January

Sangoma Technologies Co. (NASDAQ:SANG - Get Free Report) was the recipient of a significant growth in short interest in 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. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 7,900 shares, the short-interest ratio is presently 1.5 days.

Hedge Funds Weigh In On Sangoma Technologies

A number of hedge funds have recently made changes to their positions in the stock. Intact Investment Management Inc. purchased a new stake in Sangoma Technologies during the 3rd quarter worth approximately $1,587,000. Alberta Investment Management Corp lifted its position in shares of Sangoma Technologies by 11.9% during the fourth quarter. Alberta Investment Management Corp now owns 1,204,274 shares of the company's stock worth $8,373,000 after purchasing an additional 127,808 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Sangoma Technologies by 28.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,833 shares of the company's stock worth $808,000 after purchasing an additional 32,000 shares during the last quarter. National Bank of Canada FI grew its stake in Sangoma Technologies by 13.2% in the third quarter. National Bank of Canada FI now owns 72,259 shares of the company's stock worth $398,000 after purchasing an additional 8,439 shares in the last quarter. Finally, Bard Associates Inc. increased its holdings in Sangoma Technologies by 8.8% in the third quarter. Bard Associates Inc. now owns 88,161 shares of the company's stock valued at $474,000 after buying an additional 7,141 shares during the last quarter. Institutional investors and hedge funds own 39.65% of the company's stock.

Sangoma Technologies Price Performance

NASDAQ SANG traded down $0.08 during trading hours on Wednesday, reaching $7.25. The company's stock had a trading volume of 4,098 shares, compared to its average volume of 11,139. The company's 50-day moving average is $6.90 and its two-hundred day moving average is $6.08. The stock has a market cap of $241.72 million, a PE ratio of -29.00 and a beta of 1.35. Sangoma Technologies has a fifty-two week low of $2.78 and a fifty-two week high of $7.99. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.68 and a current ratio of 0.91.

Sangoma Technologies (NASDAQ:SANG - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). The firm had revenue of $60.15 million for the quarter, compared to analysts' expectations of $61.45 million. Sangoma Technologies had a negative return on equity of 3.12% and a negative net margin of 3.32%. During the same quarter last year, the firm earned ($0.07) earnings per share. Analysts forecast that Sangoma Technologies will post -0.06 EPS for the current year.

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.