Synchronoss Technologies, Inc. (NASDAQ:SNCR) Short Interest Down 6.4% in June

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Synchronoss Technologies, Inc. (NASDAQ:SNCR) was the recipient of a large decrease in short interest in June. As of June 30th, there was short interest totalling 1,023,500 shares, a decrease of 6.4% from the May 30th total of 1,093,600 shares. Based on an average trading volume of 410,000 shares, the short-interest ratio is presently 2.5 days. Approximately 2.8% of the company’s stock are sold short.

Shares of Synchronoss Technologies stock traded down $0.12 during midday trading on Monday, hitting $7.99. The company had a trading volume of 2,779 shares, compared to its average volume of 590,355. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. The firm has a market cap of $347.77 million, a PE ratio of -1.63 and a beta of 0.51. The firm has a 50 day moving average price of $7.33. Synchronoss Technologies has a 52-week low of $3.90 and a 52-week high of $8.56.

Synchronoss Technologies (NASDAQ:SNCR) last posted its quarterly earnings results on Thursday, May 9th. The software maker reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.01). The company had revenue of $88.11 million during the quarter, compared to analysts’ expectations of $83.37 million. Synchronoss Technologies had a negative return on equity of 76.17% and a negative net margin of 67.57%. As a group, equities analysts expect that Synchronoss Technologies will post -1.78 earnings per share for the current fiscal year.

Several analysts recently weighed in on SNCR shares. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. Roth Capital started coverage on Translate Bio in a research note on Tuesday, June 18th. They issued a “buy” rating and a $25.00 price target on the stock. Finally, Zacks Investment Research downgraded Yatra Online from a “hold” rating to a “sell” rating in a research note on Saturday, July 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $8.92.

In other news, CFO David D. Clark sold 20,878 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $7.91, for a total value of $165,144.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 30.50% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Optimum Investment Advisors purchased a new stake in shares of Synchronoss Technologies in the 1st quarter worth approximately $30,000. United Services Automobile Association purchased a new stake in Synchronoss Technologies during the 4th quarter valued at $72,000. Jane Street Group LLC purchased a new stake in Synchronoss Technologies during the 4th quarter valued at $73,000. Deutsche Bank AG purchased a new stake in Synchronoss Technologies during the 4th quarter valued at $95,000. Finally, Alambic Investment Management L.P. purchased a new stake in Synchronoss Technologies during the 1st quarter valued at $98,000. Institutional investors own 41.18% of the company’s stock.

About Synchronoss Technologies

Synchronoss Technologies, Inc provides cloud, digital, messaging, and Internet of things platforms, products, and solutions worldwide. Its products and services include cloud-based sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, white label messaging, and identity/access management that enable communications service providers, cable operators/multi-services operators, original equipment manufacturers with embedded connectivity, and multi-channel retailers, as well as other customers to accelerate and monetize value-add services for secure and broadband networks and connected devices.

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