Sangoma Technologies Co. (NASDAQ:SANG) Sees Large Decline in Short Interest

Sangoma Technologies Co. (NASDAQ:SANG) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 8,900 shares, a drop of 34.1% from the November 30th total of 13,500 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 7,900 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Trading of Sangoma Technologies

A number of institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in Sangoma Technologies during the second quarter valued at approximately $188,000. National Bank of Canada FI increased its position in shares of Sangoma Technologies by 13.2% in the third quarter. National Bank of Canada FI now owns 72,259 shares of the company’s stock worth $398,000 after acquiring an additional 8,439 shares in the last quarter. Bard Associates Inc. raised its stake in shares of Sangoma Technologies by 8.8% in the 3rd quarter. Bard Associates Inc. now owns 88,161 shares of the company’s stock valued at $474,000 after acquiring an additional 7,141 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Sangoma Technologies by 28.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 145,833 shares of the company’s stock valued at $808,000 after acquiring an additional 32,000 shares in the last quarter. Finally, Intact Investment Management Inc. purchased a new stake in Sangoma Technologies during the 3rd quarter worth $1,587,000. Hedge funds and other institutional investors own 39.65% of the company’s stock.

Sangoma Technologies Trading Up 0.1 %

SANG stock traded up $0.01 during trading on Monday, reaching $7.01. 2,435 shares of the stock traded hands, compared to its average volume of 7,580. The firm has a market capitalization of $233.71 million, a PE ratio of -28.04 and a beta of 1.44. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.91 and a quick ratio of 0.68. The business’s 50 day moving average price is $6.32 and its 200-day moving average price is $5.67. Sangoma Technologies has a 52-week low of $2.50 and a 52-week high of $7.16.

Sangoma Technologies Company Profile

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.