Sangoma Technologies Co. (NASDAQ:SANG) Short Interest Up 37.1% in December

Sangoma Technologies Co. (NASDAQ:SANG) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 12,200 shares, an increase of 37.1% from the December 15th total of 8,900 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 7,900 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Investors Weigh In On Sangoma Technologies

A number of large investors have recently added to or reduced their stakes in SANG. Toronto Dominion Bank increased its stake in Sangoma Technologies by 1.3% in the second quarter. Toronto Dominion Bank now owns 500,353 shares of the company’s stock valued at $2,471,000 after acquiring an additional 6,243 shares during the last quarter. Bard Associates Inc. increased 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 purchasing an additional 7,141 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of Sangoma Technologies by 13.2% during the 3rd quarter. National Bank of Canada FI now owns 72,259 shares of the company’s stock worth $398,000 after buying an additional 8,439 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position 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 worth $808,000 after buying an additional 32,000 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Sangoma Technologies during the 2nd quarter worth $188,000. Institutional investors and hedge funds own 39.65% of the company’s stock.

Sangoma Technologies Stock Performance

Shares of SANG traded up $0.02 during mid-day trading on Friday, hitting $7.37. 25,908 shares of the company’s stock were exchanged, compared to its average volume of 6,663. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.21. Sangoma Technologies has a 52 week low of $2.50 and a 52 week high of $7.65. The stock’s 50-day simple moving average is $6.65 and its 200-day simple moving average is $5.85. The firm has a market cap of $245.72 million, a price-to-earnings ratio of -29.48 and a beta of 1.36.

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.