Short Interest in Synchronoss Technologies, Inc. (NASDAQ:SNCR) Expands By 22.1%

Synchronoss Technologies, Inc. (NASDAQ:SNCR) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 124,900 shares, a growth of 22.1% from the February 28th total of 102,300 shares. Based on an average trading volume of 72,100 shares, the short-interest ratio is presently 1.7 days. Approximately 1.2% of the shares of the company are sold short.

Synchronoss Technologies Stock Performance

Shares of NASDAQ:SNCR traded down $0.13 during mid-day trading on Wednesday, reaching $11.00. 9,273 shares of the company traded hands, compared to its average volume of 74,035. The company’s 50 day moving average price is $10.15 and its 200-day moving average price is $10.48. The firm has a market cap of $126.40 million, a PE ratio of -2.84 and a beta of 2.05. Synchronoss Technologies has a 52 week low of $6.02 and a 52 week 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) last announced its quarterly earnings data on Tuesday, March 11th. The software maker reported $0.85 EPS for the quarter, beating the consensus estimate 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 business had revenue of $44.21 million for the quarter, compared to the consensus estimate of $43.76 million. On average, equities analysts expect that Synchronoss Technologies will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling at Synchronoss Technologies

In other Synchronoss Technologies news, CEO Jeffrey George Miller sold 17,389 shares of Synchronoss Technologies stock in a transaction that occurred on Thursday, February 13th. The shares were 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 owns 336,232 shares of the company’s stock, valued at approximately $3,476,638.88. The trade was a 4.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 17.90% of the company’s stock.

Institutional Investors Weigh In On Synchronoss Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its position in shares of Synchronoss Technologies by 603.6% during 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 stake in Synchronoss Technologies in the 4th quarter worth $98,000. American Century Companies Inc. bought a new position in shares of Synchronoss Technologies during the 4th quarter valued at about $103,000. Integrated Quantitative Investments LLC purchased a new position in shares of Synchronoss Technologies during the fourth quarter valued at about $158,000. Finally, Ancora Advisors LLC bought a new stake in shares of Synchronoss Technologies in the fourth quarter worth about $163,000. 51.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.