Sangoma Technologies Corporation (NASDAQ:SANG) Short Interest Up 348.0% in December

Sangoma Technologies Corporation (NASDAQ:SANG) saw a large growth in short interest during the month of 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 volume of 5,333 shares, the days-to-cover ratio is currently 21.2 days. Approximately 0.3% of the shares of the company are sold short. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 5,333 shares, the days-to-cover ratio is currently 21.2 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SANG. Connor Clark & Lunn Investment Management Ltd. increased its stake in Sangoma Technologies by 1.6% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 291,533 shares of the company’s stock valued at $1,808,000 after purchasing an additional 4,700 shares in the last quarter. Intact Investment Management Inc. boosted its position in Sangoma Technologies by 6.6% during the third quarter. Intact Investment Management Inc. now owns 553,125 shares of the company’s stock worth $2,747,000 after purchasing an additional 34,100 shares in the last quarter. Claret Asset Management Corp grew its holdings in Sangoma Technologies by 8.5% in the third quarter. Claret Asset Management Corp now owns 166,975 shares of the company’s stock valued at $829,000 after purchasing an additional 13,040 shares during the last quarter. Susquehanna International Group LLP increased its position 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 in the last quarter. Finally, National Bank of Canada FI increased its position in shares of Sangoma Technologies by 4.7% in the third quarter. National Bank of Canada FI now owns 100,687 shares of the company’s stock valued at $493,000 after buying an additional 4,499 shares in the last quarter. 39.65% of the stock is owned by hedge funds and other institutional investors.

Sangoma Technologies Price Performance

Sangoma Technologies stock opened at $4.76 on Tuesday. The company has a market cap of $157.70 million, a P/E ratio of -29.75 and a beta of 1.33. Sangoma Technologies has a one year low of $4.08 and a one year high of $7.99. The business has a fifty day moving average of $5.11 and a two-hundred day moving average of $5.40. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.72 and a current ratio of 0.87.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sangoma Technologies in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

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.