Synchronoss Technologies, Inc. (NASDAQ:SNCR) Short Interest Down 26.1% in February

Synchronoss Technologies, Inc. (NASDAQ:SNCR - Get Free Report) was the recipient of a significant decline in short interest in February. As of February 15th, there was short interest totalling 114,600 shares, a decline of 26.1% from the January 31st total of 155,000 shares. Currently, 1.2% of the company's stock are short sold. Based on an average daily volume of 51,300 shares, the short-interest ratio is presently 2.2 days.

Synchronoss Technologies Stock Performance

NASDAQ:SNCR traded down $0.20 during mid-day trading on Thursday, reaching $8.46. 15,184 shares of the stock were exchanged, compared to its average volume of 69,470. The stock has a market capitalization of $91.70 million, a P/E ratio of -2.18 and a beta of 2.05. Synchronoss Technologies has a 1 year low of $6.02 and a 1 year high of $15.46. The company has a 50 day simple moving average of $9.52 and a 200-day simple moving average of $10.87. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SNCR. Roth Mkm upgraded shares of Synchronoss Technologies from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $11.00 to $13.00 in a research report on Monday, November 25th. Roth Capital raised shares of Synchronoss Technologies from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 25th.

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Insider Buying and Selling

In related news, CEO Jeffrey George Miller sold 17,389 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $10.34, for a total transaction of $179,802.26. Following the completion of the sale, the chief executive officer now owns 336,232 shares in the company, valued at $3,476,638.88. The trade was 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 through the SEC website. Insiders own 17.90% of the company's stock.

Institutional Investors Weigh In On Synchronoss Technologies

Several large investors have recently modified their holdings of the company. Geode Capital Management LLC raised its position 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 purchasing an additional 1,851 shares during the last quarter. 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 purchasing an additional 4,000 shares during the period. Barclays PLC raised its holdings in shares of 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 buying an additional 4,919 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of 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 buying an additional 7,171 shares during the period. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of Synchronoss Technologies during the fourth quarter worth about $98,000. 51.71% of the stock is owned by institutional investors and hedge funds.

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.