Synchronoss Technologies, Inc. (NASDAQ:SNCR) Short Interest Update

Synchronoss Technologies, Inc. (NASDAQ:SNCR) saw a significant drop in short interest in February. As of February 15th, there was short interest totalling 114,600 shares, a drop of 26.1% from the January 31st total of 155,000 shares. Based on an average trading volume of 51,300 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.2% of the company’s stock are sold short.

Synchronoss Technologies Stock Performance

Shares of Synchronoss Technologies stock opened at $8.82 on Tuesday. The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.88 and a current ratio of 1.88. Synchronoss Technologies has a 1 year low of $6.02 and a 1 year high of $15.46. The firm’s 50-day simple moving average is $9.55 and its 200-day simple moving average is $10.93. The firm has a market cap of $95.60 million, a PE ratio of -2.27 and a beta of 1.99.

Wall Street Analysts Forecast Growth

SNCR has been the topic of several analyst reports. Roth Capital upgraded Synchronoss Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 25th. Roth Mkm raised shares of Synchronoss Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.00 to $13.00 in a research report on Monday, November 25th.

Insider Buying and Selling at Synchronoss Technologies

In related news, CEO Jeffrey George Miller sold 17,389 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $10.34, for a total value of $179,802.26. Following the transaction, the chief executive officer now owns 336,232 shares in the company, valued at approximately $3,476,638.88. The trade was a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.90% of the stock is owned by corporate insiders.

Institutional Trading of Synchronoss Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of SNCR. Geode Capital Management LLC grew its position in shares of Synchronoss Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 106,408 shares of the software maker’s stock worth $1,022,000 after acquiring an additional 1,851 shares in the last quarter. State Street Corp lifted its stake in Synchronoss Technologies by 12.9% during the third quarter. State Street Corp now owns 35,075 shares of the software maker’s stock worth $522,000 after purchasing an additional 4,000 shares during the last quarter. Barclays PLC boosted its holdings in Synchronoss Technologies by 603.6% in the third quarter. Barclays PLC now owns 5,734 shares of the software maker’s stock worth $85,000 after purchasing an additional 4,919 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Synchronoss Technologies by 9.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 80,633 shares of the software maker’s stock valued at $774,000 after purchasing an additional 7,171 shares during the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Synchronoss Technologies during the fourth quarter worth $98,000. 51.71% of the stock is owned by institutional investors.

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.