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

Synchronoss Technologies, Inc. (NASDAQ:SNCR) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 155,000 shares, an increase of 36.0% from the January 15th total of 114,000 shares. Based on an average daily volume of 64,500 shares, the short-interest ratio is presently 2.4 days. Approximately 1.6% of the company’s stock are sold short.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in shares of Synchronoss Technologies by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 106,408 shares of the software maker’s stock worth $1,022,000 after acquiring an additional 1,851 shares during the last quarter. State Street Corp lifted its stake in shares of Synchronoss Technologies by 12.9% in the 3rd quarter. State Street Corp now owns 35,075 shares of the software maker’s stock valued at $522,000 after acquiring an additional 4,000 shares during the last quarter. Barclays PLC lifted its position in Synchronoss Technologies by 603.6% in the third quarter. Barclays PLC now owns 5,734 shares of the software maker’s stock valued at $85,000 after purchasing an additional 4,919 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Synchronoss Technologies by 9.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 80,633 shares of the software maker’s stock valued at $774,000 after buying an additional 7,171 shares during the last quarter. Finally, American Century Companies Inc. bought a new position in Synchronoss Technologies during the 4th quarter valued at approximately $103,000. Institutional investors own 51.71% of the company’s stock.

Synchronoss Technologies Price Performance

NASDAQ SNCR traded up $0.04 on Friday, hitting $10.38. 36,818 shares of the stock traded hands, compared to its average volume of 49,184. 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 has a 12 month low of $6.02 and a 12 month high of $15.46. The business’s fifty day moving average is $9.58 and its two-hundred day moving average is $11.01.

Wall Street Analyst Weigh In

SNCR has been the subject of a number of analyst reports. Roth Capital upgraded shares of Synchronoss Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, November 25th. Roth Mkm raised shares of Synchronoss Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $11.00 to $13.00 in a research report on Monday, November 25th.

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.