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

Synchronoss Technologies, Inc. (NASDAQ:SNCR - Get Free Report) was the recipient of a large 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. Based on an average daily trading volume, of 80,200 shares, the short-interest ratio is currently 2.8 days. Approximately 2.2% of the shares of the company are sold short.

Analysts Set New Price Targets

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

Insider Activity at Synchronoss Technologies

In other news, CEO Jeffrey George Miller sold 17,389 shares of the firm'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 value of $179,802.26. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Synchronoss Technologies

Several institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC lifted its stake in shares of Synchronoss Technologies by 603.6% during the 3rd 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. Occudo Quantitative Strategies LP acquired a new position in shares of Synchronoss Technologies during the 4th quarter valued at about $98,000. American Century Companies Inc. purchased a new position in shares of Synchronoss Technologies during the 4th quarter worth about $103,000. XTX Topco Ltd purchased a new stake in Synchronoss Technologies in the third quarter valued at approximately $237,000. Finally, Integrated Quantitative Investments LLC purchased a new position in Synchronoss Technologies during the fourth quarter worth approximately $158,000. Hedge funds and other institutional investors own 51.71% of the company's stock.

Synchronoss Technologies Price Performance

Shares of NASDAQ SNCR traded down $0.05 on Friday, hitting $9.76. The company's stock had a trading volume of 78,731 shares, compared to its average volume of 75,976. The stock has a 50 day moving average of $10.18 and a 200-day moving average of $10.19. The company has a market capitalization of $112.15 million, a price-to-earnings ratio of -2.52 and a beta of 1.78. Synchronoss Technologies has a 12-month low of $6.02 and a 12-month high of $15.46. 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 - Get Free Report) last announced its earnings results on Tuesday, March 11th. The software maker reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.75. Synchronoss Technologies had a negative return on equity of 10.99% and a negative net margin of 20.00%. The firm had revenue of $44.21 million for the quarter, compared to analysts' expectations of $43.76 million. As a group, research analysts predict that Synchronoss Technologies will post 0.1 EPS 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.