Sangoma Technologies (NASDAQ:SANG) Stock Price Down 2.1% – Time to Sell?

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

Analyst Upgrades and Downgrades

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

Sangoma Technologies Stock Down 3.2%

The company has a current ratio of 0.87, a quick ratio of 0.71 and a debt-to-equity ratio of 0.09. The company’s fifty day simple moving average is $4.62 and its 200 day simple moving average is $4.95. The firm has a market capitalization of $132.19 million, a P/E ratio of -24.94 and a beta of 1.32.

Sangoma Technologies (NASDAQ:SANG) last posted its earnings results on Wednesday, February 4th. The company reported ($0.06) earnings per share 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%. Research analysts expect that Sangoma Technologies Corporation will post -0.18 EPS for the current year.

Institutional Trading of Sangoma Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of SANG. National Bank of Canada FI increased its holdings in shares of Sangoma Technologies by 4.7% during the third 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 in the last quarter. Legacy Advisors LLC purchased a new stake in Sangoma Technologies during the 3rd quarter valued at about $50,000. Susquehanna International Group LLP increased its stake in Sangoma Technologies by 109.0% during the 3rd quarter. Susquehanna International Group LLP now owns 23,689 shares of the company’s stock valued at $117,000 after purchasing an additional 12,352 shares in the last quarter. Claret Asset Management Corp raised its holdings in Sangoma Technologies by 8.5% in the third quarter. Claret Asset Management Corp now owns 166,975 shares of the company’s stock worth $829,000 after buying an additional 13,040 shares during the last quarter. Finally, Ewing Morris & Co. Investment Partners Ltd. lifted its stake in shares of 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 worth $2,923,000 after buying an additional 14,397 shares in the last quarter. 39.65% of the stock is owned by hedge funds and other institutional investors.

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.