Short Interest in Synchronoss Technologies, Inc. (NASDAQ:SNCR) Grows By 36.0%

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SNCR shares. Roth Capital raised shares of Synchronoss Technologies from a “hold” rating to a “strong-buy” rating in a research note 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 report on Monday, November 25th.

Institutional Trading of Synchronoss Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in shares of Synchronoss Technologies by 54,341.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 58,797 shares of the software maker’s stock worth $875,000 after buying an additional 58,689 shares during the period. LSV Asset Management acquired a new stake in shares of Synchronoss Technologies in the 4th quarter valued at approximately $400,000. Marshall Wace LLP lifted its stake in Synchronoss Technologies by 55.3% in the fourth quarter. Marshall Wace LLP now owns 80,166 shares of the software maker’s stock valued at $770,000 after acquiring an additional 28,551 shares during the last quarter. Trexquant Investment LP acquired a new stake in Synchronoss Technologies in the fourth quarter valued at $172,000. Finally, Integrated Quantitative Investments LLC acquired a new stake in Synchronoss Technologies in the 4th quarter valued at about $158,000. 51.71% of the stock is currently owned by institutional investors and hedge funds.

Synchronoss Technologies Trading Up 0.4 %

NASDAQ:SNCR traded up $0.04 during mid-day trading on Friday, reaching $10.38. 36,818 shares of the company were exchanged, compared to its average volume of 49,184. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 5.75. The company has a fifty day moving average of $9.58 and a 200 day moving average of $11.01. Synchronoss Technologies has a 12 month low of $6.02 and a 12 month high of $15.46.

Synchronoss Technologies Company Profile

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.