Synchronoss Technologies Target of Unusually High Options Trading (SNCR)

Synchronoss Technologies, Inc. (NASDAQ:SNCR) saw some unusual options trading activity on Thursday. Stock investors acquired 4,310 put options on the stock. This is an increase of 6,238% compared to the typical daily volume of 68 put options.

Synchronoss Technologies (SNCR) opened at $8.34 on Tuesday. Synchronoss Technologies has a one year low of $8.03 and a one year high of $39.60. The company has a market cap of $386.75, a PE ratio of -6.57 and a beta of 1.56.

Several brokerages have recently weighed in on SNCR. Deutsche Bank reissued a “hold” rating and issued a $8.00 price objective (down from $18.00) on shares of Synchronoss Technologies in a research report on Thursday, December 7th. BidaskClub lowered shares of Synchronoss Technologies from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 9th. Credit Suisse Group reissued an “underperform” rating and issued a $8.00 price objective (down from $13.00) on shares of Synchronoss Technologies in a research report on Thursday, December 7th. Finally, Zacks Investment Research raised shares of Synchronoss Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $16.57.

Hedge funds have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. acquired a new position in shares of Synchronoss Technologies in the third quarter valued at about $113,000. SG Americas Securities LLC acquired a new position in shares of Synchronoss Technologies in the third quarter valued at about $119,000. FNY Managed Accounts LLC acquired a new position in shares of Synchronoss Technologies in the third quarter valued at about $149,000. Municipal Employees Retirement System of Michigan grew its stake in shares of Synchronoss Technologies by 60.2% in the third quarter. Municipal Employees Retirement System of Michigan now owns 16,180 shares of the software maker’s stock valued at $151,000 after acquiring an additional 6,080 shares in the last quarter. Finally, Nine Chapters Capital Management LLC acquired a new position in shares of Synchronoss Technologies in the third quarter valued at about $160,000. Institutional investors and hedge funds own 68.21% of the company’s stock.

TRADEMARK VIOLATION WARNING: This report was first reported by Transcript Daily and is owned by of Transcript Daily. If you are accessing this report on another domain, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this report can be read at https://transcriptdaily.com/2018/01/30/synchronoss-technologies-target-of-unusually-high-options-trading-sncr.html.

Synchronoss Technologies Company Profile

Synchronoss Technologies, Inc is a global software and services company, which provides technologies and services for the mobile transformation of business. The Company’s portfolio in the Consumer and Enterprise markets contains offerings, such as personal cloud, secure-mobility, identity management and scalable messaging platforms, products and solutions.

Receive News & Ratings for Synchronoss Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synchronoss Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply