Short Interest in Sangoma Technologies Co. (NASDAQ:SANG) Expands By 42.0%

Sangoma Technologies Co. (NASDAQ:SANG) was the recipient of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 7,100 shares, an increase of 42.0% from the July 31st total of 5,000 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 4,400 shares, the days-to-cover ratio is currently 1.6 days.

Sangoma Technologies Stock Up 0.6 %

Shares of NASDAQ:SANG traded up $0.03 during trading on Thursday, reaching $5.40. 7,967 shares of the stock traded hands, compared to its average volume of 6,470. The stock has a 50-day moving average of $5.07 and a two-hundred day moving average of $4.80. Sangoma Technologies has a 52-week low of $2.18 and a 52-week high of $6.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.77 and a current ratio of 1.04. The stock has a market cap of $129.04 million, a P/E ratio of -5.81 and a beta of 1.46.

Institutional Investors Weigh In On Sangoma Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in SANG. PenderFund Capital Management Ltd. boosted its holdings in Sangoma Technologies by 6.8% in the fourth quarter. PenderFund Capital Management Ltd. now owns 3,308,133 shares of the company’s stock worth $10,586,000 after purchasing an additional 210,300 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Sangoma Technologies in the first quarter worth approximately $765,000. Unique Wealth LLC purchased a new stake in Sangoma Technologies in the second quarter worth approximately $427,000. Acadian Asset Management LLC purchased a new stake in Sangoma Technologies in the second quarter worth approximately $188,000. Finally, Toronto Dominion Bank boosted its holdings in Sangoma Technologies by 1.3% in the second quarter. Toronto Dominion Bank now owns 500,353 shares of the company’s stock worth $2,471,000 after purchasing an additional 6,243 shares during the last quarter. Hedge funds and other institutional investors own 39.65% of the company’s stock.

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.