Short Interest in Synchronoss Technologies, Inc. (NASDAQ:SNCR) Drops By 13.3%

Synchronoss Technologies, Inc. (NASDAQ:SNCR - Get Free Report) saw a significant decrease in short interest in May. As of May 15th, there was short interest totalling 102,900 shares, a decrease of 13.3% from the April 30th total of 118,700 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average daily volume of 101,800 shares, the days-to-cover ratio is currently 1.0 days.

Synchronoss Technologies Stock Up 2.3%

Synchronoss Technologies stock traded up $0.16 during midday trading on Friday, hitting $7.07. 52,346 shares of the company's stock were exchanged, compared to its average volume of 83,352. The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.88 and a current ratio of 1.88. Synchronoss Technologies has a 12 month low of $6.31 and a 12 month high of $15.46. The firm has a 50-day moving average of $8.81 and a two-hundred day moving average of $9.48. The company has a market cap of $81.29 million, a PE ratio of -1.82 and a beta of 1.75.

Synchronoss Technologies (NASDAQ:SNCR - Get Free Report) last issued its earnings results on Tuesday, March 11th. The software maker reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.75. The company had revenue of $44.21 million for the quarter, compared to analysts' expectations of $43.76 million. Synchronoss Technologies had a negative net margin of 20.00% and a negative return on equity of 10.99%. As a group, analysts expect that Synchronoss Technologies will post 0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Synchronoss Technologies from a "hold" rating to a "buy" rating in a report on Friday, March 14th.

Insider Activity at Synchronoss Technologies

In other Synchronoss Technologies news, CEO Jeffrey George Miller sold 6,289 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $10.22, for a total transaction of $64,273.58. Following the transaction, the chief executive officer now owns 445,564 shares in the company, valued at $4,553,664.08. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Laurie Harris sold 4,800 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $7.00, for a total transaction of $33,600.00. Following the transaction, the director now owns 47,632 shares in the company, valued at $333,424. This trade represents a 9.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,961 shares of company stock valued at $279,021 over the last 90 days. 19.90% of the stock is owned by corporate insiders.

Institutional Trading of Synchronoss Technologies

Hedge funds have recently modified their holdings of the company. Occudo Quantitative Strategies LP purchased a new stake in shares of Synchronoss Technologies during the fourth quarter valued at about $98,000. American Century Companies Inc. acquired a new stake in Synchronoss Technologies during the 4th quarter valued at approximately $103,000. Barclays PLC lifted its stake in Synchronoss Technologies by 156.8% during the 4th quarter. Barclays PLC now owns 14,726 shares of the software maker's stock valued at $141,000 after acquiring an additional 8,992 shares during the period. Integrated Quantitative Investments LLC acquired a new stake in Synchronoss Technologies during the 4th quarter valued at approximately $158,000. Finally, Ancora Advisors LLC acquired a new stake in Synchronoss Technologies during the 4th quarter valued at approximately $163,000. 51.71% of the stock is 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.