Shorts On Watch: Could Synchronoss Technologies Incorporated (NASDAQ:SNCR) Go Down After Its Newest Short Interest Report?

November 16, 2016 - By Nellie Frank   ·   0 Comments

Shorts On Watch: Could Synchronoss Technologies Incorporated (NASDAQ:SNCR) Go Down After Its Newest Short Interest Report?

The stock of Synchronoss Technologies Incorporated (NASDAQ:SNCR) registered a decrease of 2.69% in short interest. SNCR’s total short interest was 2.24 million shares in November as published by FINRA. Its down 2.69% from 2.30 million shares, reported previously. With 301,200 shares average volume, it will take short sellers 7 days to cover their SNCR’s short positions. The short interest to Synchronoss Technologies Incorporated’s float is 5.58%. About 14,841 shares traded hands. Synchronoss Technologies, Inc. (NASDAQ:SNCR) has risen 48.51% since April 14, 2016 and is uptrending. It has outperformed by 43.82% the S&P500.

Synchronoss Technologies, Inc. offers cloud solutions and software activation for mobile carriers, enterprises, retailers and original equipment manufacturers (OEMs). The company has a market cap of $2.16 billion. The Firm operates in providing cloud solutions and software activation for connected devices segment. It currently has negative earnings. The Company’s software provides consumer and enterprise solutions for transactions on a range of connected devices across the world’s networks.

Insitutional Activity: The institutional sentiment increased to 1.93 in 2016 Q2. Its up 0.99, from 0.94 in 2016Q1. The ratio increased, as 8 funds sold all Synchronoss Technologies, Inc. shares owned while 51 reduced positions. 35 funds bought stakes while 79 increased positions. They now own 36.19 million shares or 1.51% more from 35.65 million shares in 2016Q1.
Da Davidson And holds 0% of its portfolio in Synchronoss Technologies, Inc. (NASDAQ:SNCR) for 3,392 shares. Ahl Prtnrs Llp reported 45,376 shares or 0.08% of all its holdings. Cim Mangement holds 0.22% or 16,669 shares in its portfolio. Palisade Capital Management Ltd Nj reported 11,000 shares or 0.01% of all its holdings. Dreman Value Management L L C holds 0.01% of its portfolio in Synchronoss Technologies, Inc. (NASDAQ:SNCR) for 331 shares. Connor Clark Lunn Inv Management has 0% invested in the company for 9,500 shares. Penbrook Management Llc last reported 27,580 shares in the company. Employees Retirement Of Texas accumulated 0.03% or 70,000 shares. Arrowgrass Capital (Us) Lp last reported 63,452 shares in the company. Service Automobile Association, a Texas-based fund reported 55,400 shares. The Texas-based Beacon Gru has invested 0.07% in Synchronoss Technologies, Inc. (NASDAQ:SNCR). Public Sector Pension Investment Board accumulated 27,990 shares or 0.01% of the stock. Panagora Asset Mngmt accumulated 6,835 shares or 0% of the stock. Bessemer Inc holds 0% of its portfolio in Synchronoss Technologies, Inc. (NASDAQ:SNCR) for 223 shares. Credit Agricole S A owns 10,900 shares or 0% of their US portfolio.

Insider Transactions: Since May 18, 2016, the stock had 0 insider purchases, and 13 selling transactions for $4.10 million net activity. Moore Donnie sold $223,465 worth of stock or 5,500 shares. Waldis Stephen G sold $525,590 worth of stock or 13,000 shares. On Monday, August 22 Rosenberger Karen sold $3,384 worth of the stock or 83 shares. Another trade for 436 shares valued at $18,922 was sold by Schuette David. The insider McCormick James M sold $1.10M.

Synchronoss Technologies, Inc. (NASDAQ:SNCR) Ratings Coverage

Out of 5 analysts covering Synchronoss Technologies Inc. (NASDAQ:SNCR), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. Synchronoss Technologies Inc. has been the topic of 8 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The rating was initiated by Stephens on Wednesday, August 10 with “Overweight”. The stock has “Strong Buy” rating given by Raymond James on Thursday, October 29. Drexel Hamilton initiated the stock with “Buy” rating in Wednesday, June 1 report. The stock has “Hold” rating given by Stifel Nicolaus on Thursday, February 4.

SNCR Company Profile

Synchronoss Technologies, Inc. (Synchronoss), incorporated on September 19, 2000, offers cloud solutions and software activation for mobile carriers, enterprises, retailers and original equipment manufacturers (OEMs). The Firm operates in providing cloud solutions and software activation for connected devices segment. The Company’s software provides consumer and enterprise solutions for transactions on a range of connected devices across the world’s networks. The Company’s solutions include activation and provisioning software for devices and services, cloud sync, backup, storage and content engagement capabilities, broadband connectivity solutions, analytics, identity/access management and secure mobility management that enable communications service providers (CSPs), cable operators/multi-services operators (MSOs) and OEMs with embedded connectivity (smartphones, laptops, tablets and mobile Internet devices (MIDs), such as automobiles, wearables for personal health and wellness, and connected homes), multi-channel retailers, medium and large enterprises and their consumers, as well as other clients for secure and broadband networks, and connected devices. The Firm operates in and markets its solutions and services directly through its sales organizations in North America, Europe and Asia-Pacific.

More notable recent Synchronoss Technologies, Inc. (NASDAQ:SNCR) news were published by: Fool.com which released: “Why Synchronoss Technologies, Inc. Stock Soared Today” on November 08, 2016, also Fool.com with their article: “Synchronoss Technologies, Inc. Earnings: A Classic “Beat and Raise” Report” published on August 08, 2016, Fool.com published: “Why Shares of Synchronoss Technologies Inc. Soared Today” on May 06, 2016. More interesting news about Synchronoss Technologies, Inc. (NASDAQ:SNCR) were released by: Finance.Yahoo.com and their article: “Synchronoss Technologies, Inc. Announces Date of Third Quarter 2016 Financial …” published on October 12, 2016 as well as Fool.com‘s news article titled: “Why Shares of Synchronoss Technologies Inc. Slumped Again Today” with publication date: February 04, 2016.

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By Nellie Frank


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