Sangoma Technologies (NASDAQ:SANG) Shares Up 0.5% – What’s Next?

Shares of Sangoma Technologies Corporation (NASDAQ:SANG) rose 0.5% on Tuesday . The company traded as high as $3.87 and last traded at $3.73. Approximately 7,369 shares were traded during trading, an increase of 28% from the average daily volume of 5,768 shares. The stock had previously closed at $3.71.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Weiss Ratings upgraded Sangoma Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 17th. Zacks Research raised Sangoma Technologies from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. Finally, Canaccord Genuity Group lowered Sangoma Technologies from a “speculative buy” rating to a “hold” rating and lowered their price objective for the stock from $9.00 to $4.00 in a research report on Thursday, May 14th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $4.00.

Sangoma Technologies Price Performance

The stock has a market cap of $124.63 million, a P/E ratio of -19.71 and a beta of 1.27. The company has a 50 day simple moving average of $3.99 and a 200 day simple moving average of $4.02. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.07.

Institutional Trading of Sangoma Technologies

Several hedge funds and other institutional investors have recently modified their holdings of SANG. Legacy Advisors LLC bought a new position in Sangoma Technologies during the third quarter worth about $50,000. Scotia Capital Inc. acquired a new position in shares of Sangoma Technologies during the third quarter worth $90,000. Susquehanna International Group LLP increased its stake in shares of Sangoma Technologies by 109.0% in the third quarter. Susquehanna International Group LLP now owns 23,689 shares of the company’s stock valued at $117,000 after buying an additional 12,352 shares during the period. National Bank of Canada FI lifted 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 purchasing an additional 4,499 shares during the period. Finally, Royal Bank of Canada raised its position in shares of Sangoma Technologies by 51.2% during the fourth quarter. Royal Bank of Canada now owns 103,813 shares of the company’s stock worth $526,000 after acquiring an additional 35,173 shares during the last quarter. Institutional investors own 39.65% of the company’s stock.

About Sangoma Technologies

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.