Synchronoss Technologies, Inc. (NASDAQ:SNCR) Short Interest Up 22.1% in March

Synchronoss Technologies, Inc. (NASDAQ:SNCR) saw a significant growth in short interest in 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 daily trading volume, of 72,100 shares, the days-to-cover ratio is currently 1.7 days. Currently, 1.2% of the company’s shares are sold short.

Synchronoss Technologies Price Performance

Shares of SNCR opened at $11.44 on Thursday. The business’s 50-day moving average is $10.19 and its 200-day moving average is $10.49. 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 company has a market capitalization of $131.46 million, a price-to-earnings ratio of -2.95 and a beta of 2.05. Synchronoss Technologies has a fifty-two week low of $6.02 and a fifty-two week high of $15.46.

Synchronoss Technologies (NASDAQ:SNCR) last released its quarterly earnings data on Tuesday, March 11th. The software maker reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.75. The firm had revenue of $44.21 million for the quarter, compared to analyst estimates of $43.76 million. Synchronoss Technologies had a negative net margin of 20.00% and a negative return on equity of 10.99%. Equities research 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 transaction of $179,802.26. Following the transaction, the chief executive officer now directly owns 336,232 shares in the company, 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. Insiders own 17.90% of the company’s stock.

Institutional Trading of Synchronoss Technologies

A number of institutional investors have recently bought and sold shares of SNCR. Barclays PLC increased its position in Synchronoss Technologies by 603.6% in 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 last quarter. Occudo Quantitative Strategies LP acquired a new position in Synchronoss Technologies in the fourth quarter worth approximately $98,000. American Century Companies Inc. bought a new position in Synchronoss Technologies during the fourth quarter valued at approximately $103,000. XTX Topco Ltd acquired a new stake in Synchronoss Technologies in the third quarter valued at approximately $237,000. Finally, Integrated Quantitative Investments LLC acquired a new stake in Synchronoss Technologies in the fourth quarter valued at approximately $158,000. Institutional investors and hedge funds own 51.71% of the company’s stock.

Analyst Ratings Changes

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

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.