Synchronoss Technologies, Inc. (NASDAQ:SNCR) Short Interest Up 22.1% in March

Synchronoss Technologies, Inc. (NASDAQ:SNCR - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 124,900 shares, a growth of 22.1% from the February 28th total of 102,300 shares. Currently, 1.2% of the company's stock are sold short. Based on an average trading volume of 72,100 shares, the days-to-cover ratio is presently 1.7 days.

Analyst Upgrades and Downgrades

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

Insider Transactions at Synchronoss Technologies

In other news, CEO Jeffrey George Miller sold 17,389 shares of the firm's stock in a transaction on 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 owns 336,232 shares in the company, valued at approximately $3,476,638.88. This trade represents a 4.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.90% of the stock is currently owned by company insiders.

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Institutional Trading of Synchronoss Technologies

A number of hedge funds have recently modified their holdings of SNCR. Geode Capital Management LLC increased its holdings in Synchronoss Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 106,408 shares of the software maker's stock valued at $1,022,000 after buying an additional 1,851 shares during the period. State Street Corp increased its stake in Synchronoss Technologies by 12.9% in the third quarter. State Street Corp now owns 35,075 shares of the software maker's stock valued at $522,000 after acquiring an additional 4,000 shares during the period. Barclays PLC raised its position 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 in the last quarter. Arrowstreet Capital Limited Partnership lifted 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 worth $774,000 after purchasing an additional 7,171 shares during the period. Finally, Occudo Quantitative Strategies LP acquired a new stake in Synchronoss Technologies during the fourth quarter valued at approximately $98,000. Institutional investors own 51.71% of the company's stock.

Synchronoss Technologies Stock Performance

NASDAQ SNCR traded down $0.37 during trading on Monday, hitting $9.48. The company's stock had a trading volume of 51,802 shares, compared to its average volume of 75,231. The firm has a market cap of $108.88 million, a P/E ratio of -2.44 and a beta of 1.78. Synchronoss Technologies has a 52 week low of $6.02 and a 52 week high of $15.46. The firm has a 50 day moving average price of $10.20 and a 200 day moving average price of $10.45. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75.

Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) last posted its quarterly earnings data on Tuesday, March 11th. The software maker reported $0.85 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $43.76 million. Equities research analysts forecast that Synchronoss Technologies will post 0.1 earnings per share for the current fiscal 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.