Zacks Research Downgrades Sangoma Technologies (NASDAQ:SANG) to Strong Sell

Sangoma Technologies (NASDAQ:SANG) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sangoma Technologies in a research note on Thursday, January 22nd. ATB Cormark Capital Markets upgraded shares of Sangoma Technologies to a “moderate buy” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, Sangoma Technologies currently has a consensus rating of “Hold” and a consensus price target of $11.00.

Sangoma Technologies Stock Up 1.8%

Sangoma Technologies stock opened at $4.55 on Monday. Sangoma Technologies has a fifty-two week low of $4.08 and a fifty-two week high of $6.49. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.71 and a current ratio of 0.87. The company has a market capitalization of $150.74 million, a P/E ratio of -28.44 and a beta of 1.32. The stock has a 50-day simple moving average of $4.78 and a 200-day simple moving average of $5.10.

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

Hedge Funds Weigh In On Sangoma Technologies

Several institutional investors have recently bought and sold shares of SANG. Intact Investment Management Inc. raised its position in Sangoma Technologies by 17.9% during the 4th 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 last quarter. Acadian Asset Management LLC increased its stake in shares of Sangoma Technologies by 51.7% during the first quarter. Acadian Asset Management LLC now owns 181,800 shares of the company’s stock worth $809,000 after acquiring an additional 61,951 shares during the period. Royal Bank of Canada raised its holdings in Sangoma Technologies by 51.2% during the fourth quarter. Royal Bank of Canada now owns 103,813 shares of the company’s stock worth $526,000 after purchasing an additional 35,173 shares in the last quarter. Scotia Capital Inc. purchased a new position in Sangoma Technologies during the third quarter worth about $90,000. Finally, Ewing Morris & Co. Investment Partners Ltd. lifted its position in Sangoma Technologies by 3.1% in the second quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 472,554 shares of the company’s stock valued at $2,923,000 after purchasing an additional 14,397 shares during the period. 39.65% of the stock is owned by institutional investors and hedge funds.

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.