Sangoma Technologies (NASDAQ:SANG) Downgraded by Zacks Research to “Strong Sell”

Zacks Research cut shares of Sangoma Technologies (NASDAQ:SANG) from a hold rating to a strong sell rating in a report published on Monday morning,Zacks.com reports.

Several other research analysts also recently issued reports on SANG. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sangoma Technologies in a research note on Thursday, January 22nd. ATB Cormark Capital Markets raised Sangoma Technologies to a “moderate buy” rating in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sangoma Technologies currently has a consensus rating of “Hold” and an average target price of $11.00.

Sangoma Technologies Stock Up 1.8%

SANG stock opened at $4.55 on Monday. The firm has a market capitalization of $150.74 million, a PE ratio of -28.44 and a beta of 1.32. The business’s 50 day simple moving average is $4.78 and its 200 day simple moving average is $5.10. Sangoma Technologies has a 1-year low of $4.08 and a 1-year high of $6.49. The company has a current ratio of 0.87, a quick ratio of 0.71 and a debt-to-equity ratio of 0.09.

Sangoma Technologies (NASDAQ:SANG) last released its quarterly earnings results on Wednesday, February 4th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.12). The firm had revenue of $51.50 million for the quarter, compared to analyst estimates of $51.17 million. Sangoma Technologies had a negative return on equity of 1.80% and a negative net margin of 2.53%. As a group, research analysts anticipate that Sangoma Technologies will post -0.18 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Intact Investment Management Inc. increased its stake in shares of Sangoma Technologies by 17.9% in the fourth quarter. Intact Investment Management Inc. now owns 652,325 shares of the company’s stock worth $3,274,000 after buying an additional 99,200 shares during the period. Ewing Morris & Co. Investment Partners Ltd. boosted its stake in Sangoma Technologies by 3.1% during the second quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 472,554 shares of the company’s stock worth $2,923,000 after acquiring an additional 14,397 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of 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 worth $1,808,000 after purchasing an additional 4,700 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Sangoma Technologies by 51.7% in the 1st quarter. Acadian Asset Management LLC now owns 181,800 shares of the company’s stock worth $809,000 after buying an additional 61,951 shares during the last quarter. Finally, Claret Asset Management Corp increased its position in Sangoma Technologies by 8.5% during the 3rd quarter. Claret Asset Management Corp now owns 166,975 shares of the company’s stock valued at $829,000 after buying an additional 13,040 shares in the last quarter. 39.65% of the stock is owned by institutional investors.

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.