Sangoma Technologies (TSE:STC) Shares Down 13% - Here's What Happened

Sangoma Technologies Co. (TSE:STC - Get Free Report) fell 13% during trading on Thursday . The company traded as low as C$8.41 and last traded at C$9.00. 118,403 shares traded hands during trading, an increase of 193% from the average session volume of 40,412 shares. The stock had previously closed at C$10.35.

Wall Street Analysts Forecast Growth

Separately, TD Securities increased their price target on shares of Sangoma Technologies from C$10.00 to C$12.00 and gave the company a "buy" rating in a research report on Thursday, November 7th.

Sangoma Technologies Price Performance

The company has a quick ratio of 0.69, a current ratio of 0.95 and a debt-to-equity ratio of 34.31. The business's 50-day simple moving average is C$9.94 and its 200 day simple moving average is C$7.62. The firm has a market capitalization of C$299.51 million, a P/E ratio of -24.81 and a beta of 1.63.

Sangoma Technologies Company Profile

Sangoma Technologies Corporation, together with its subsidiaries, develops, manufactures, distributes, and supports voice and data connectivity components for software-based communication applications in the United States of America and internationally. The company offers communications platforms comprising pure cloud and hybrid unified communications as a service, and on-premises systems; retail and wholesale SIP trunking, as well as fax as a service; Sangoma TeamHub, a unified communications and collaboration platform for business productivity; Sangoma Meet, a multi-party video conferencing platform; and Sangoma CX, a cloud-native contact center suite that enables businesses to manage inbound interactions across multiple channels.