Short Interest in Synchronoss Technologies, Inc. (NASDAQ:SNCR) Increases By 78.2%

Synchronoss Technologies, Inc. (NASDAQ:SNCR) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 222,600 shares, an increase of 78.2% from the March 15th total of 124,900 shares. Currently, 2.2% of the company’s stock are sold short. Based on an average daily trading volume, of 80,200 shares, the short-interest ratio is currently 2.8 days.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Synchronoss Technologies from a “hold” rating to a “buy” rating in a research report on Friday, March 14th.

Insider Activity at Synchronoss Technologies

In related news, CEO Jeffrey George Miller sold 17,389 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $10.34, for a total transaction of $179,802.26. Following the transaction, the chief executive officer now directly owns 336,232 shares of the company’s stock, valued at $3,476,638.88. This trade represents a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC lifted its stake in Synchronoss Technologies by 603.6% in the third quarter. Barclays PLC now owns 5,734 shares of the software maker’s stock valued at $85,000 after purchasing an additional 4,919 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in shares of Synchronoss Technologies in the fourth quarter valued at $98,000. American Century Companies Inc. purchased a new position in shares of Synchronoss Technologies during the 4th quarter valued at $103,000. Integrated Quantitative Investments LLC bought a new position in shares of Synchronoss Technologies during the 4th quarter worth $158,000. Finally, Ancora Advisors LLC purchased a new stake in Synchronoss Technologies in the 4th quarter worth about $163,000. 51.71% of the stock is owned by institutional investors.

Synchronoss Technologies Stock Down 3.1 %

Shares of NASDAQ:SNCR opened at $9.81 on Thursday. Synchronoss Technologies has a 1 year low of $6.02 and a 1 year high of $15.46. The company has a market capitalization of $112.73 million, a PE ratio of -2.53 and a beta of 1.78. The business has a fifty day moving average price of $10.21 and a two-hundred day moving average price of $10.27. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.88 and a quick ratio of 1.88.

Synchronoss Technologies (NASDAQ:SNCR) last posted its quarterly earnings results on Tuesday, March 11th. The software maker reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.75. Synchronoss Technologies had a negative net margin of 20.00% and a negative return on equity of 10.99%. The company had revenue of $44.21 million during the quarter, compared to analyst estimates of $43.76 million. Analysts forecast that Synchronoss Technologies will post 0.1 earnings per share for the current year.

About Synchronoss Technologies

Synchronoss Technologies, Inc provides cloud, messaging, digital, and network management solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Synchronoss Personal Cloud platform that allows customers' subscribers to backup and protect, engage with, and manage their personal content.