Sangoma Technologies Co. (NASDAQ:SANG – Get Rating) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 8,400 shares, an increase of 90.9% from the December 31st total of 4,400 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 3,700 shares, the short-interest ratio is presently 2.3 days.

Wall Street Analysts Forecast Growth

SANG has been the topic of a number of research analyst reports. TD Securities lowered their price objective on shares of Sangoma Technologies from C$17.50 to C$16.50 in a research report on Monday, November 14th. Lake Street Capital lowered their price objective on shares of Sangoma Technologies from $15.00 to $12.00 in a research report on Monday, November 14th.

Hedge Funds Weigh In On Sangoma Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Pembroke Management LTD lifted its position in Sangoma Technologies by 1.3% during the third quarter. Pembroke Management LTD now owns 1,971,282 shares of the company's stock valued at $14,212,000 after purchasing an additional 25,398 shares in the last quarter. PenderFund Capital Management Ltd. lifted its position in Sangoma Technologies by 20.2% during the first quarter. PenderFund Capital Management Ltd. now owns 1,685,400 shares of the company's stock valued at $29,966,000 after purchasing an additional 283,430 shares in the last quarter. Fiera Capital Corp lifted its position in Sangoma Technologies by 0.3% during the third quarter. Fiera Capital Corp now owns 958,277 shares of the company's stock valued at $2,823,000 after purchasing an additional 3,037 shares in the last quarter. Royal Bank of Canada lifted its position in Sangoma Technologies by 16.8% during the third quarter. Royal Bank of Canada now owns 151,135 shares of the company's stock valued at $793,000 after purchasing an additional 21,737 shares in the last quarter. Finally, CLARET ASSET MANAGEMENT Corp lifted its position in Sangoma Technologies by 128.5% during the second quarter. CLARET ASSET MANAGEMENT Corp now owns 68,493 shares of the company's stock valued at $578,000 after purchasing an additional 38,524 shares in the last quarter. 31.00% of the stock is currently owned by hedge funds and other institutional investors.

Sangoma Technologies Price Performance

Sangoma Technologies (NASDAQ:SANG – Get Rating) last released its earnings results on Thursday, November 10th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.10. The company had revenue of $64.05 million for the quarter, compared to the consensus estimate of $65.36 million. Sangoma Technologies had a negative return on equity of 5.54% and a negative net margin of 46.82%. On average, equities analysts expect that Sangoma Technologies will post -0.23 earnings per share for the current fiscal year.

About Sangoma Technologies

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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.

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