Synchronoss Technologies (NASDAQ:SNCR) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Synchronoss Technologies, Inc. (NASDAQ:SNCR - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.48 and traded as high as $11.39. Synchronoss Technologies shares last traded at $11.13, with a volume of 84,620 shares.

Wall Street Analysts Forecast Growth

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

Synchronoss Technologies Stock Down 10.5 %

The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75. The business has a 50-day simple moving average of $10.20 and a 200-day simple moving average of $10.45. The company has a market cap of $113.07 million, a PE ratio of -2.54 and a beta of 1.78.

Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) last announced its earnings results on Tuesday, March 11th. The software maker reported $0.85 earnings per share (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 analyst estimates of $43.76 million. Equities research analysts anticipate that Synchronoss Technologies, Inc. will post 0.1 EPS for the current year.

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Insider Activity

In related news, CEO Jeffrey George Miller sold 17,389 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $10.34, for a total value of $179,802.26. Following the transaction, the chief executive officer now directly owns 336,232 shares of the company's stock, valued at approximately $3,476,638.88. This trade represents a 4.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 17.90% of the company's stock.

Institutional Investors Weigh In On Synchronoss Technologies

Several large investors have recently bought and sold shares of SNCR. Barclays PLC boosted its stake 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 worth $85,000 after acquiring an additional 4,919 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new position in Synchronoss Technologies in the 4th quarter valued at $98,000. American Century Companies Inc. acquired a new stake in Synchronoss Technologies during the 4th quarter worth $103,000. Integrated Quantitative Investments LLC purchased a new stake in shares of Synchronoss Technologies during the fourth quarter worth $158,000. Finally, Ancora Advisors LLC purchased a new position in shares of Synchronoss Technologies in the fourth quarter worth about $163,000. 51.71% of the stock is currently owned by hedge funds and other 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.