Short Interest in Sangoma Technologies Co. (NASDAQ:SANG) Declines By 15.8%

Sangoma Technologies Co. (NASDAQ:SANG - Get Free Report) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 4,800 shares, a drop of 15.8% from the February 28th total of 5,700 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 10,700 shares, the short-interest ratio is presently 0.4 days.

Institutional Investors Weigh In On Sangoma Technologies

Several large investors have recently bought and sold shares of the company. Citadel Advisors LLC acquired a new stake in shares of Sangoma Technologies in the fourth quarter worth approximately $86,000. Bank of America Corp DE boosted its stake in Sangoma Technologies by 198.4% during the 4th quarter. Bank of America Corp DE now owns 18,200 shares of the company's stock worth $130,000 after purchasing an additional 12,100 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of 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 buying an additional 15,400 shares in the last quarter. National Bank of Canada FI raised its position in shares of Sangoma Technologies by 13.2% in the third quarter. National Bank of Canada FI now owns 72,259 shares of the company's stock valued at $398,000 after buying an additional 8,439 shares during the last quarter. Finally, Bard Associates Inc. lifted its stake in shares of Sangoma Technologies by 2.3% in the fourth quarter. Bard Associates Inc. now owns 90,205 shares of the company's stock worth $644,000 after buying an additional 2,044 shares in the last quarter. 39.65% of the stock is currently owned by hedge funds and other institutional investors.

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Sangoma Technologies Price Performance

Shares of SANG stock traded down $0.25 during trading hours on Friday, hitting $4.20. 3,612 shares of the company's stock were exchanged, compared to its average volume of 8,109. Sangoma Technologies has a fifty-two week low of $4.04 and a fifty-two week high of $7.99. The firm has a market cap of $141.13 million, a P/E ratio of -20.00 and a beta of 1.40. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average of $5.54 and a two-hundred day moving average of $6.08.

Sangoma Technologies (NASDAQ:SANG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.06) earnings per share 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 last year, the firm earned ($0.10) EPS. Sell-side analysts forecast that Sangoma Technologies will post -0.18 EPS for the current year.

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.