Sangoma Technologies (NASDAQ:SANG) Trading Down 2.1% – Here’s What Happened

Sangoma Technologies Corporation (NASDAQ:SANG) dropped 2.1% during trading on Wednesday . The company traded as low as $4.12 and last traded at $4.2020. Approximately 2,460 shares traded hands during trading, a decline of 43% from the average daily volume of 4,352 shares. The stock had previously closed at $4.29.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sangoma Technologies in a research report on Thursday, January 22nd. ATB Cormark Capital Markets upgraded shares of Sangoma Technologies to a “moderate buy” rating in a research report on Thursday, February 5th. Finally, Zacks Research cut shares of Sangoma Technologies from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.00.

Sangoma Technologies Price Performance

The firm has a 50 day moving average of $4.63 and a 200-day moving average of $4.95. The company has a market cap of $139.21 million, a P/E ratio of -26.26 and a beta of 1.32. The company has a current ratio of 0.87, a quick ratio of 0.71 and a debt-to-equity ratio of 0.09.

Sangoma Technologies (NASDAQ:SANG) last posted its quarterly earnings results on Wednesday, February 4th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.12). Sangoma Technologies had a negative return on equity of 1.80% and a negative net margin of 2.53%.The business had revenue of $51.50 million during the quarter, compared to the consensus estimate of $51.17 million. On average, equities research analysts predict that Sangoma Technologies Corporation will post -0.18 EPS for the current year.

Hedge Funds Weigh In On Sangoma Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its stake in Sangoma Technologies by 51.2% during the fourth quarter. Royal Bank of Canada now owns 103,813 shares of the company’s stock valued at $526,000 after acquiring an additional 35,173 shares in the last quarter. National Bank of Canada FI increased its holdings in Sangoma Technologies by 4.7% in the 3rd quarter. National Bank of Canada FI now owns 100,687 shares of the company’s stock valued at $493,000 after acquiring an additional 4,499 shares during the last quarter. Ewing Morris & Co. Investment Partners Ltd. lifted its stake in Sangoma Technologies by 3.1% in the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 472,554 shares of the company’s stock worth $2,923,000 after purchasing an additional 14,397 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Sangoma Technologies by 51.7% during the 1st quarter. Acadian Asset Management LLC now owns 181,800 shares of the company’s stock valued at $809,000 after purchasing an additional 61,951 shares during the last quarter. Finally, Intact Investment Management Inc. boosted its holdings in shares of Sangoma Technologies by 17.9% during the 4th quarter. Intact Investment Management Inc. now owns 652,325 shares of the company’s stock valued at $3,274,000 after purchasing an additional 99,200 shares during the last quarter. Institutional investors own 39.65% of the company’s stock.

Sangoma Technologies Company Profile

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.