Synchronoss Technologies, Inc. (NASDAQ:SNCR) Short Interest Update

Synchronoss Technologies, Inc. (NASDAQ:SNCR) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 259,300 shares, an increase of 27.2% from the February 29th total of 203,900 shares. Currently, 2.7% of the company’s stock are short sold. Based on an average daily trading volume, of 112,600 shares, the days-to-cover ratio is presently 2.3 days.

Insiders Place Their Bets

In other Synchronoss Technologies news, EVP Patrick Joseph Doran sold 2,750 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $9.33, for a total value of $25,657.50. Following the completion of the sale, the executive vice president now owns 69,308 shares in the company, valued at approximately $646,643.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Patrick Joseph Doran sold 2,750 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $9.33, for a total transaction of $25,657.50. Following the transaction, the executive vice president now owns 69,308 shares in the company, valued at approximately $646,643.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin Rendino purchased 5,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were acquired at an average price of $9.30 per share, for a total transaction of $46,500.00. Following the acquisition, the director now directly owns 888,892 shares in the company, valued at approximately $8,266,695.60. The disclosure for this purchase can be found here. Insiders purchased a total of 30,288 shares of company stock worth $187,147 in the last quarter. 6.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. First Personal Financial Services bought a new position in shares of Synchronoss Technologies during the 4th quarter worth about $25,000. Victory Capital Management Inc. bought a new position in shares of Synchronoss Technologies during the 4th quarter worth about $89,000. Prudential Financial Inc. bought a new position in shares of Synchronoss Technologies during the 2nd quarter worth about $30,000. Quadrature Capital Ltd bought a new stake in Synchronoss Technologies in the third quarter valued at about $32,000. Finally, Jane Street Group LLC bought a new stake in Synchronoss Technologies in the second quarter valued at about $36,000. Institutional investors and hedge funds own 51.71% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Synchronoss Technologies in a report on Thursday, December 14th. They set a “hold” rating on the stock.

Synchronoss Technologies Trading Down 1.5 %

Synchronoss Technologies stock opened at $8.35 on Monday. The company has a debt-to-equity ratio of 5.11, a current ratio of 1.72 and a quick ratio of 1.72. Synchronoss Technologies has a fifty-two week low of $2.70 and a fifty-two week high of $13.97. The firm has a fifty day moving average price of $8.54 and a two-hundred day moving average price of $6.58.

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's product EngageX, offers personal cloud, which helps in backup, manage, and engage with content; multi-channel messaging, peer-to-peer communications, and application-to-person commerce solutions; and email solutions.