Short Interest in Sangoma Technologies Corporation (NASDAQ:SANG) Rises By 348.0%

Sangoma Technologies Corporation (NASDAQ:SANG) saw a significant growth in short interest in December. As of December 31st, there was short interest totaling 113,033 shares, a growth of 348.0% from the December 15th total of 25,228 shares. Based on an average daily trading volume, of 5,333 shares, the short-interest ratio is currently 21.2 days. Currently, 0.3% of the shares of the company are short sold. Currently, 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 5,333 shares, the short-interest ratio is currently 21.2 days.

Institutional Trading of Sangoma Technologies

Several large investors have recently made changes to their positions in the company. Susquehanna International Group LLP raised its stake in Sangoma Technologies by 109.0% in the 3rd quarter. Susquehanna International Group LLP now owns 23,689 shares of the company’s stock valued at $117,000 after purchasing an additional 12,352 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Sangoma Technologies by 4.7% during the third quarter. National Bank of Canada FI now owns 100,687 shares of the company’s stock worth $493,000 after buying an additional 4,499 shares in the last quarter. Scotia Capital Inc. acquired a new stake in shares of Sangoma Technologies in the third quarter valued at about $90,000. Legacy Advisors LLC purchased a new position in shares of Sangoma Technologies in the third quarter worth about $50,000. Finally, Claret Asset Management Corp boosted its position in Sangoma Technologies by 8.5% during the third quarter. Claret Asset Management Corp now owns 166,975 shares of the company’s stock worth $829,000 after acquiring an additional 13,040 shares during the last quarter. 39.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Sangoma Technologies in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Sangoma Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Sangoma Technologies Price Performance

Sangoma Technologies stock traded up $0.12 during midday trading on Wednesday, reaching $4.88. The company had a trading volume of 4,506 shares, compared to its average volume of 3,677. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.87 and a quick ratio of 0.72. Sangoma Technologies has a 12-month low of $4.08 and a 12-month high of $7.99. The company has a market capitalization of $161.69 million, a P/E ratio of -30.50 and a beta of 1.33. The firm’s fifty day simple moving average is $5.11 and its 200-day simple moving average is $5.40.

Sangoma Technologies Company Profile

Sangoma Technologies Corporation (NASDAQ:SANG) is a global provider of enterprise communications solutions that enable organizations to deploy voice, video, and data services across on-premises and cloud environments. The company’s offerings include unified communications platforms, SIP-based telephony hardware, VoIP gateways, session border controllers, and related endpoints. Sangoma serves small and medium-sized businesses as well as larger enterprises, delivering solutions for IP telephony, collaboration, contact centers, and SIP trunking.

The company’s product portfolio comprises software-based PBX systems such as PBXact and FreePBX, along with hardware appliances for secure and scalable connectivity.