Synchronoss Technologies, Inc. (NASDAQ:SNCR) Sees Significant Growth in Short Interest

Synchronoss Technologies, Inc. (NASDAQ:SNCR - Get Free Report) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 155,000 shares, an increase of 36.0% from the January 15th total of 114,000 shares. Based on an average daily trading volume, of 64,500 shares, the days-to-cover ratio is currently 2.4 days. Currently, 1.6% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Synchronoss Technologies

Several large investors have recently modified their holdings of SNCR. JPMorgan Chase & Co. raised its holdings in Synchronoss Technologies by 54,341.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 58,797 shares of the software maker's stock worth $875,000 after acquiring an additional 58,689 shares during the period. Geode Capital Management LLC lifted its position in shares of Synchronoss Technologies by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 104,557 shares of the software maker's stock worth $1,557,000 after purchasing an additional 4,159 shares during the last quarter. Barclays PLC boosted its stake in Synchronoss Technologies by 603.6% during the 3rd 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 period. State Street Corp grew its holdings in Synchronoss Technologies by 12.9% in the 3rd quarter. State Street Corp now owns 35,075 shares of the software maker's stock valued at $522,000 after buying an additional 4,000 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Synchronoss Technologies in the 3rd quarter worth approximately $165,000. 51.71% of the stock is owned by institutional investors.

Synchronoss Technologies Stock Performance

Shares of SNCR stock traded down $0.22 during trading on Tuesday, reaching $10.17. The company had a trading volume of 16,173 shares, compared to its average volume of 51,479. The company has a market capitalization of $110.19 million, a PE ratio of -2.62 and a beta of 1.99. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.88 and a quick ratio of 1.88. The firm's 50 day simple moving average is $9.59 and its two-hundred day simple moving average is $11.02. Synchronoss Technologies has a one year low of $6.02 and a one year high of $15.46.

Synchronoss Technologies Company Profile

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.