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

Zacks Research cut shares of Sangoma Technologies (NASDAQ:SANG) from a hold rating to a strong sell rating in a report published on Monday morning,Zacks.com reports.

Several other equities research analysts have also recently commented on the company. ATB Cormark Capital Markets raised Sangoma Technologies to a “moderate buy” rating in a report on Thursday, February 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sangoma Technologies in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.00.

Sangoma Technologies Stock Performance

SANG stock opened at $4.69 on Monday. The company has a 50-day simple moving average of $4.77 and a 200 day simple moving average of $5.10. The company has a market capitalization of $155.40 million, a P/E ratio of -29.31 and a beta of 1.32. The company has a quick ratio of 0.71, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. Sangoma Technologies has a fifty-two week low of $4.08 and a fifty-two week high of $6.49.

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

Institutional Trading of Sangoma Technologies

A number of hedge funds have recently bought and sold shares of SANG. Intact Investment Management Inc. lifted its stake in Sangoma Technologies by 17.9% during the fourth quarter. Intact Investment Management Inc. now owns 652,325 shares of the company’s stock valued at $3,274,000 after buying an additional 99,200 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Sangoma Technologies by 51.7% in the 1st quarter. Acadian Asset Management LLC now owns 181,800 shares of the company’s stock worth $809,000 after purchasing an additional 61,951 shares during the period. Royal Bank of Canada raised its stake in Sangoma Technologies by 51.2% during the 4th quarter. Royal Bank of Canada now owns 103,813 shares of the company’s stock valued at $526,000 after purchasing an additional 35,173 shares during the period. Scotia Capital Inc. acquired a new stake in Sangoma Technologies during the 3rd quarter valued at $90,000. Finally, Ewing Morris & Co. Investment Partners Ltd. lifted its holdings 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 valued at $2,923,000 after purchasing 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.